How To Turn Credit Card Into Cash FAST

Описание: I'm going to give you 3 ways to do exactly that, turn a credit card into cash.

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1. Fund a Bank Account with a Credit Card
Now this a technique a lot of credit card churning do to meet the minimum spend but its also something you can do to take cash out of a credit card
And the idea is very simple, you open a new bank account with a bank that lets you use a credit card to fund the account

So Obviously:
The strategy is to find a bank that allows you to fund your bank account with a credit card
Then use that money for whatever you want
If you find 2-5 banks and the average limit is around $500, you could potentially take out $1000-2500 fee-free

Tip: a lot of banks have changed the policy so make sure you do your research beforehand. And comment down below also if you know any banks

2. Cash Advance/Check/Direct Deposit to your bank account or cash from atm ( but if the amount if too high directly from a teller)
Now this is the most direct way to take money out of your credit card
And also the most expensive way to do it
Because credit card charge one time fees and also higher interest rates for cash advances

Here are the details:
Every bank is different and they set different limits, td bank lets you take 30% of your credit line in cash, and discover lets me take around 40% ( some other banks are less or higher )
And the interest rate is around 24.99 ( so higher than your normal rate)
And they charge 5% or $10 which is ever higher obviously
You can find most of this info on your credit card statement

But here is how it works:
I have 4 options: write myself a check and deposit it, Go to a teller and take the money out, or go to an atm or ask them to just deposit it directly into my bank account
So in this case, if I wanted to take that $2,800, it would cost me 5% plus 24.99% annually
So the bank would make the first year around 30%

Ps. If your statement doesn’t have the info, just call your credit card and ask them three questions: My Cash withdraw limit, interest rate, and fees.

3. Manufactured Spend + Balance Transfer
Is when you literally spend money just to get cash or point
Its like buying gift cards to bypass the fees of traditional balance transfer
Try it out with a $25 dollar gift card first to make sure they don’t charge you cash advance fee ( Citi bank is known to do this account to doctor of credit)

Step by Step how it works:
You want to have a credit card of course
Then you want to open up a american express serve card ( its Prepaid debit card you can load money into and it's free) I have the green one
Then you want to go into a local store that sells visa or MasterCard gift cards ( try this out with $25-$50 to make sure everything works smoothly )
Then you want to go to family dollar, Walmart, rite aid and a lot more places
You want to tell them, I want to reload my American express card with a debit card ( you reload the American Express card with the gift card, and then transfer the money to the bank )
And you’re done

Ps: be careful, scammer do this with stolen credit cards and stores are always on the lookout.
Here is a safety net: balance transfer for 21 months

Articles:

Banks that allow Funding with CC: https://www.doctorofcredit.com/does-f...

Full Video on Manufacture spending:    • How does Credit Card Manufactured Spend wo...  

Prepaid card: https://www.serve.com/

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Disclosure & Educational Disclaimer:
Some links in this video may be affiliate links, and I may earn a commission. Content is educational and accurate as of posting; offers may change. I’m an accountant but not your accountant; always consult your own accountant/CPA or financial advisor. No income or results are guaranteed.