Shape memory alloy (SMA) micro cables have a wide potential for attenuation of vibrations and structural health monitoring due to energy dissipation. This work evaluates the effect of SMA thermomechanical coupling during dynamic cycling and the fatigue life of NiTi SMA micro cables submitted to tensile loadings at frequencies from 0.25 Hz to 10 Hz. The thermomechanical coupling was characterized using a previously developed methodology that identifies the self-heating frequency. When dynamically loaded above this frequency, the micro cable response is dominated by the self-heating, stiffening significantly during cycling. Once above the self-heating frequency, structural and functional fatigues of the micro cable were evaluated as a function of the loading frequency for the failure of each individual wire. All tests were performed on a single wire with equal cross-section area for comparison purposes. We observed that the micro cable’s functional properties regarding energy dissipation capacity decreased throughout the cycles with increasing frequency. Due to the additional friction between the filaments of the micro cable, this dissipation capacity is superior to that of the single wire. Although its fatigue life is shorter, its delayed failure compared to a single wire makes it a more reliable sensor for structural health monitoring.