In a globe where paying money through credit card is effective, it becomes a rare event to spend money for something. While it is rare, it’s not unheard of either. Even when you need cash in hand, the best thing that you can do is use the most valuable tool in the name of a credit card. Getting money from a particular credit card will be required to know two methods. And when you ask yourself how to get instant cash from your credit card, keep the below-offered methods in mind just to make your money transfer process more seamless. In this particular guide, you will be enlightened with the two methods of getting the instant cash from your credit card. To know more, scroll down.
Method 1 – Getting Cash Advance via Credit Card
The process of getting cash advance via your credit card is also known as the credit card cash advance. This particular service is handy, but it is not free of cost, however. The option comes with transaction fees for each advance. At the same time, it tends to charge higher APRs when compared to the other transactions. So how does this method work? To know about how to transfer money from credit card to bank account. read on.
STEP 1: Before you withdraw the money, you need to check the credit card agreement in order to verify the eligibility of your card. This also ensures to find out the accurate cash advance limit of your credit card. As a matter of fact, the limit will be smaller than the actual credit lines.
STEP 2: Once you are done with the aforementioned step, it is time for you to decide the process of obtaining your funds. As a matter of fact, a common way to get your money from the card is by setting up the cash advance PIN so that it becomes easy to use the card in withdrawing money from the ATM.
STEP 3: After this, you have to use the credit card at an eligible ATM similar to that of a debit card’s usage. If you don’t want to set up the PIN, then you can make the best use of photo ID at the local branded bank branch for receiving the cash advance.
Method 2 – Getting Cash Back Rewards from the Credit Card
Another popular way of getting cash from the credit card is by earning it through rewards. The cash back credit cards are in availability for all credit profiles which also include the bad credit. This complements the spending types and offers a universal rebate on more or less everything. It is a common way of seeing cash back rewards redeeming as the statement credit which can help you in paying the credit card balance. However, you still might get the physical cash after having the cash back deposited in any eligible bank account. So how does this process work? To know more, read on.
STEP 1: Customizing everything is so easy in today’s world. And you can also earn and redeem the cash back rewards. While you get dozens of options concerning the cash back rewards cards, the competition remains effective for all cardholders. You should first obtain the credit card earning cash back. Two types are there – one is unlimited cash back at one single rate, and the other is offering a lower unlimited rate on the maximum number of purchases. So when you own a card earning cash back, it becomes a simple process. You have to activate the bonus categories for starting to earn.
STEP 2: Next, you should always redeem your cash. It can be done by simple clicks via the online account of your credit card.
Now that you know the two methods of getting cash from your credit card, proceed effectively. Make sure you follow the first method effectively. And to earn bonus cash, you will be required to follow the second method.