3 Tricks That How To Get Cash From Credit Card

how to get cash from credit card without fee

Sometimes, we need $500 to pay back a personal loan, but we don’t have money. We may consider getting cash advance from a credit card. However, that will be very very expensive. According to Credit.com Report, credit card issuers charge average 5% advance fee and 23%— 7% average rate.

Here are some good methods to get dollars from a credit card, these methods help us to get close to a 0 cash advance fee.

  1. Utilize Retail Stores

Most retail stores, especially general merchandise stores, refund cash to us when we return the articles (Of course the goods must fit return policy), regardless of whether we use Cash or Credit card to shop (because cooperative bank will charge for commission of fee from them on this transaction when they refund by card). So select one, and shopping by our credit card, and return goods on the same day, then we get cash.

  2. Shopping with your friend

We can call on our friends to help us if they are going to buy household appliances or something. We pay the purchase for them, then they give cash to us. Of course, we owe them one!

  3. Utilize the Balance Transfer

At worst we can transfer a balance to a good card that offers zero rate and (or) transfer fee, instead of pay out advance fees and rate, then use it.

Can you use a credit card at an ATM to get cash?

Of course, you can. But you will be charged with very high advance fee (5%) and rate (23%— 7%)

how to withdraw money from credit card

How do you take out cash from a credit card at an ATM?

When you first take out cash from the credit card at an ATM, you will need a PIN number. Please contact your credit card company to get it and set up card allow cash withdrawals.

Do cash advances on credit cards hurt your credit?

No and Yes. Your credit does not be affected directly, but since it is quite expensive (Most card issuers charge 23% — 7% rate and 5% advance fee ), so your balance on the card grow quickly. Your credit will be hurt when balance continues to grow or you can’t make payments on schedule.


3 Tricks That How To Get Cash From Credit Card