How to withdraw cash from credit card without charges?

Hey,

If you have a credit card, then you must have tried to find out how to withdraw cash from credit card without charges at least once. If you are still looking to find the answer to the same query, then read below:

Credit card cash withdrawal is also known as ‘Credit Card Advance’ in technical terms. You can use this facility to withdraw cash from an ATM using your credit card. Some points related to credit card cash withdrawal that you need to keep in mind:

• Making card transactions is the main feature of a credit card and cash withdrawal is just an additional feature of credit cards.

• You can withdraw cash from your credit card only up to a permissible limit.

• The maximum credit card cash withdrawal limit varies from one bank to another

• You’ll be required to pay additional charges along with interest on the withdrawn amount

Fees on Credit Card Cash Withdrawal

You are required to pay extra charges on withdrawing cash using credit cards. These additional charges are referred to as ‘credit card advance fees’. Every time you withdraw cash using your credit card, a %age of the amount withdrawn is charged as a cash advance fee. Usually, banks charge around 2.5% to 3% of the amount you withdraw using a credit card, subject to a min. amount of Rs. 300-500 as a credit card cash advance charge. The charge will reflect in the billing statement for the coming month.

There are some credit cards offered by some banks that allow users to withdraw cash up to a certain limit without any fees. For instance, Paytm Bank HDFC Credit Card offers 0 fees on cash withdrawal of up to Rs. 10000.

Alternatively, there are some apps that charge a very low fee and offer cashback which reduces the total fee amount significantly. For instance, if you use the “Pay Rent” facility of NoBroker, then you will be charged a low fee of 1% and will also get several offers from different banks.

This is how to withdraw cash from credit card without fees.

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I hope you liked my answer on how to withdraw cash from credit card without charges.

Last month, my cousin require urgent cash for offline transactions. To withdraw money from an ATM, he used a credit card similar to a regular debit card. But, he wasn’t aware that in order to withdraw money, he has to pay the related cash advance fees. He asked me to research how to take money from credit card without charges since he needed additional money. When I checked online, I found that there are a few strategies to take into consideration.

How to get money from credit card without charges?

A number of techniques for direct cash withdrawals have been outlined by Vijay. Let’s find out the easiest way to withdraw money without any fees:

• Transfer your credit card balance to an account that offers a balance transfer with a low or 0% introductory Annual Percentage Rate (APR). 

• You could look into the cash advance option on your credit card. Some credit cards provide certain periods with a decreased rate. 

• For instance, there are no cash advance fees on the Axis Bank Reserve Credit Card. If you have a credit card like that, you can withdraw money without thinking about the fees that might apply. Though, the interest rate should still be considered.

• As Jagan Reddy mentioned, use online payment services like PayPal, which let you deposit money to colleagues or family members who can subsequently cash it out and give it to you.

It is important for you to carefully read the terms and conditions of any method you decide to use. I hope you got an understanding of how to withdraw credit card amount without charges.

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Banks that provide credit cards also permit you to withdraw up to a specific amount of cash. So, the answer to your question, "Can we withdraw money from the credit card?" is yes! As a result, you have the freedom to withdraw cash from both your debit and credit cards. The maximum cash withdrawal with a credit card is still restricted. So let’s see how to withdraw money from credit card without fee in India.

How to take cash from credit card without any charges?

In most cases, using a credit card to withdraw cash entails paying a cash advance fee. But there are certain indirect methods you might use to make low- or no-cost cash withdrawals using your credit card. The following is one of the most useful trick to withdraw money from credit card:

You may use some indirect or alternative techniques if you urgently need to withdraw cash using your credit card but wish to minimise the fees. You can buy things for your friends or family members and ask them to give you cash in exchange for an identical amount. You may also use your credit card to fill wallets like the Paytm wallet, and then transfer the funds to your bank account. While using a credit card to reload your wallet is not free, the costs are typically less expensive than those for cash advances.

I hope you understood how to withdraw money from credit card without fee in India.