Credit card to bank transfer

[simerpreetchawla]

Hello All,

Is there any way where we can transfer amount from credit card to bank account without much interest?
Please help and guide.

 

[Vasuki]

Hello All,

Is there any way where we can transfer amount from credit card to bank account without much interest?
Please help and guide.

Cards ?
Visa / rupay
Amount..

Without much is intrest ? There is no intrest but convince fees ..

 

[simerpreetchawla]

Cards ?
Visa / rupay
Amount..

Without much is intrest ? There is no intrest but convince fees ..

Visa cards..
Amount would be 50-60k

 

[Vasuki]

Visa cards..
Amount would be 50-60k

Direct - cc to bank
Through payzap 2.30 % I guess

There are other trick but I won't recommend .
Better use rupay card at 1.30 to 1.80%

 

[krish11]

Hello All,

Is there any way where we can transfer amount from credit card to bank account without much interest?
Please help and guide.

You can check ATM withdrawal through IDFC Credit Card. I think there isn't interest charges if you pay within due date but some fees is there for withdrawing.

 

[ccgeek07]

which platform charges less fees for MasterCard variant? Amount around 10k

 

[Nishan11]

Unless and until it's emergency financial need, wallet to bank big transactions should not be done as majority of banks don't consider it for milestones & if some banks still considering then sooner or later they will also exclude this from milestones.

I have seen couple of people using multiple credit cards with no job & surviving by paying bill of each credit card by using other cards wallet to bank transactions. Don't know how long they can continue this.

Financial discipline is must.

 

[ccgeek07]

Unless and until it's emergency financial need, wallet to bank big transactions should not be done as majority of banks don't consider it for milestones & if some banks still considering then sooner or later they will also exclude this from milestones.

I have seen couple of people using multiple credit cards with no job & surviving by paying bill of each credit card by using other cards wallet to bank transactions. Don't know how long they can continue this.

Financial discipline is must.

I have a spend based offer. So I'm evaluating the possible ways. Not into regular rotation.

 

[Maikalal Jaikishan]

I have a spend based offer. So I'm evaluating the possible ways. Not into regular rotation.

Rotation is rotation, whether you call it regular or not.

 

[the_collector]

Rotation is rotation, whether you call it regular or not.

Instead of giving gyaan you can help OP.

There are many people that do it without posting it here.

Doing it once or twice for specific rewards is no harm

 

[Riya]

I don't understand why credit card holders are interested in rotating funds through wallet and some tricks.....
Use cards for the purpose they are intended for.... misuse will first of all lead to massive devaluations (as we have seen in past few months) plus banks are no fools that they don't know what's happening with their cards...
they'll crackdown in hard way when these things will be happening in big quantum

 

[the_collector]

I don't understand why credit card holders are interested in rotating funds through wallet and some tricks.....
Use cards for the purpose they are intended for.... misuse will first of all lead to massive devaluations (as we have seen in past few months) plus banks are no fools that they don't know what's happening with their cards...
they'll crackdown in hard way when these things will be happening in big quantum

Yeah I agree but there are specific groups where people post these tricks and a lot of them use them😅

And then when somebody who isn't in the groups ask, they're giving a load of gyaan on how wrong it is.

Btw , I don't agree for rotation unless it's an emergency.

 

[Vasuki]

I don't understand why credit card holders are interested in rotating funds through wallet and some tricks.....
Use cards for the purpose they are intended for.... misuse will first of all lead to massive devaluations (as we have seen in past few months) plus banks are no fools that they don't know what's happening with their cards...
they'll crackdown in hard way when these things will be happening in big quantum

Don't think that your .
Everyone has own circumstances

Cc is a money tool
Who use it wise slay


You use it earn 10% on product
Some might use it to save thier ass someday in case of emergency
Some to cater to financial need
Some might rotate to earn
Some might rotate to give money in business.


It varies.. everyone has personal experiences.and all of them are unique.

 

[Riya]

Yeah I agree but there are specific groups where people post these tricks and a lot of them use them😅

And then when somebody who isn't in the groups ask, they're giving a load of gyaan on how wrong it is.

Btw , I don't agree for rotation unless it's an emergency.

why even rotate.... cards openly give the facility to encash the limit with some charges or even bank transfer facility.....
card to wallet and then to bank and then again to card...... ITD is going to come knocking soon for the source of funds in bank accounts

 

[Vasuki]

why even rotate.... cards openly give the facility to encash the limit with some charges or even bank transfer facility.....
card to wallet and then to bank and then again to card...... ITD is going to come knocking soon for the source of funds in bank accounts

Aapse yeh ummed nhi thi Bhai

When u withdraw from atm

Intrest are charged from day 1 not from day of statement date

 

[the_collector]

why even rotate.... cards openly give the facility to encash the limit with some charges or even bank transfer facility.....
card to wallet and then to bank and then again to card...... ITD is going to come knocking soon for the source of funds in bank accounts

Well not really.

Firstly a lot more charges via the way you mentioned.
And secondly 0 possibility of getting rewards via that way.

Instead using the wallet option is better in both ways.

Plus ITD won't flag these transactions I suppose? Unless they're an exhorbitant amount.

A lot of people need cash in bank let's say if there salary hasn't come, so they have to resort to this

 

[Riya]

Well not really.

Firstly a lot more charges via the way you mentioned.
And secondly 0 possibility of getting rewards via that way.

Instead using the wallet option is better in both ways.

Plus ITD won't flag these transactions I suppose? Unless they're an exhorbitant amount.

A lot of people need cash in bank let's say if there salary hasn't come, so they have to resort to this

I thought we were talking about emergency situations for liquid funds....
otherwise only a dumbhead or a fraudster uses cards for bank transfers

 

[Riya]

Aapse yeh ummed nhi thi Bhai

When u withdraw from atm

Intrest are charged from day 1 not from day of statement date

yeah.... but in case of contingencies, one should be ready to bear these charges....
moreover banks are dying these days to provide personal loan based on credit card limit at much lesser interest rate than cards

 

[Vasuki]

yeah.... but in case of contingencies, one should be ready to bear these charges....
moreover banks are dying these days to provide personal loan based on credit card limit at much lesser interest rate than cards

That's why this community is for

Cash withdrawal is absolute no for cc
Pl - what if u need for 2 month
Closing loan is not easy in everybank
Hence rotation helps

 

[Riya]

That's why this community is for

Cash withdrawal is absolute no for cc
Pl - what if u need for 2 month
Closing loan is not easy in everybank
Hence rotation helps

Like I just said that every bank is providing personal loans at around 16-18% based on the credit card...
It's a much better option because card payment had to be done next month but the loan can be extended for a pretty longer duration