SEC Fact Sheet: “A number of companies are beginning to offer a “401(k) debit card” to employees who invest in 401(k) retirement programs. A 401(k) debit card allows you to borrow up to $50,000 or 50% of the value of your retirement plan, whichever is less, through use of a debit card. Unlike a debit card that deducts money from your checking or savings account, a 401(k) debit card withdrawal is a loan you make to yourself out of your retirement savings. More akin to a traditional credit card, you must repay the money you withdraw using the card, along with fees and interest –- or you may incur substantial penalties. There are a number of important factors you should consider before using a 401(k) debit card..”