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Forum
-> Household Management
-> Finances
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amother
OP
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 Today at 2:51 pm
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Is there a way to convert my credit limits to cash?
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Molly Weasley
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Today at 2:57 pm
| amother OP wrote: | | Is there a way to convert my credit limits to cash? |
Many credit cards allow you to borrow money at low interest rates for short periods of time, based on your credit limits. They sometimes mail out checks that can be used anywhere or even allow you to transfer directly to your Bank accounts.
Just read the fine print, often times there's a transfer fee besides for very High interest rates once the introductory period expires.
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finprof
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Today at 3:57 pm
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That would be worse than a payday loan!
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amother
Fern
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Today at 4:01 pm
Sure. You can take a cash advance.
Then after a 3 month grace period (if ur lucky) you will have to pay back 39% percent interest. It's a hole you can't get out of.
Better to reach out to a gmach.
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amother
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Today at 4:01 pm
| Molly Weasley wrote: | Many credit cards allow you to borrow money at low interest rates for short periods of time, based on your credit limits. They sometimes mail out checks that can be used anywhere or even allow you to transfer directly to your Bank accounts.
Just read the fine print, often times there's a transfer fee besides for very High interest rates once the introductory period expires. |
The cash advance rates are actually usually very high, so just look carefully what exactly your getting
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amother
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Today at 4:03 pm
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OP there is a trick to get cash out of American Express, if you have any cards with them. It will be just as if it’s a regular purchase on your card
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