I thought both credit cards and debit cards are the same and believe we use them for cash withdrawal in ATMs but recently I learned that there are some charges associated with debit cards. I got a bit puzzled and had to ask him
can we withdraw money from credit card? If yes, why give the charge? I am taking my money from the bank only. He said the two cards are different and I use a debit card in an ATM for withdrawing money which has a minimum charge but not as much as that of debit card. So let me tell you what does credit card mean first and then the other details.
Make all your payments easy with NoBroker Utility Bill Payment Service and get exciting rewards in return What is a credit card?A credit card is a payment card that is issued by users so that they can pay for goods and services based on the cardholder’s accrued debt. It is a facility that is provided by the banks allowing the user to borrow funds within a pre-approved credit limit.
Can i withdraw cash from credit card?
Like a debit card only, one can use the credit card to withdraw money. But be sure that you have to pay a higher interest rate on any cash you withdraw. The fee charged is called as Credit Card Cash Advance Fee and it appears in the next billing statement along with the entire amount withdrawn and interest levied on the amount withdrawn. I hope this answers your query of can we take cash from credit card or not.
Which is safer: credit card or debit card?Credit cards are safer than debit cards as it offers a better consumer protection against fraud compared to that of a debit card linked to a bank account.
I hope now you know can we withdraw money from credit card or not.
Read More:
How to use credit card?
What are the benefits of credit card?
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Authors Of The Question
Can We Withdraw Money From Credit Card?
Ananya88
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2 Year
2022-07-31T11:31:57+00:00 2022-07-31T11:31:59+00:00Comment
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