Credit Card Update: If you use a credit card, this news may be important for you. These days, money transactions are incredibly easy. People transfer money using debit cards. However, credit card transactions can be useful in certain situations. If you need money or want to take advantage of an offer, you can transfer money using a credit card. However, it’s important to understand that these types of transactions incur higher fees and interest.
When you transfer money from a credit card to a bank account, it’s called a cash advance. This attracts higher interest rates than regular purchases and may also incur additional charges. Always read your credit card’s terms and conditions.
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How to Transfer Money with a Credit Card
You can transfer money using net banking. Some banks in India offer the ability to transfer money directly from a credit card to a bank account through their net banking platform. The advantage is that it’s a very easy and quick method. However, the disadvantage is that not every bank offers this feature, and there’s a set transfer limit.
Quickly Learn the Process
To do this, go to the Credit Card or Fund Transfer section.
Select the transfer form option, such as Credit Card or Cash Advance.
Enter the transfer amount and bank account details.
Confirm the transaction by checking the distribution.
The facility is available over the phone
Then, call the credit card company’s customer care number.
Then, inform them of the money transfer to the bank account.
Enter the amount and account details.
Follow the instructions for the process.