Can we withdraw cash from credit card, Most of the credit card holders want to know the answer. Because in the present time the circulation of credit card has increased a lot. People are seen paying different types of bills through credit cards. But some of these people have confusion about withdrawing cash from credit card. If you are also one of them, then definitely read the whole article till the end, in this article whether you can withdraw money from credit card or not , apart from this, you will also get to know the answer to other questions related to credit card.
Can I withdraw Cash From Credit Card?
Yes, you can definitely withdraw cash from your credit card, but you will have to pay a fee for it. Which this fee can be from 2.5 to 3 percent. For example, if you withdraw cash of Rs 1 lakh, then you may have to pay a fee of two and a half to three thousand rupees for this.
Apart from this, there is no benefit of interest free credit period on cash advance. That is, the interest free grace period that is available after shopping is not available in this. In this case interest has to be paid every month on the cash withdrawn.
Keep in mind that repeatedly withdrawing cash from the credit card can spoil the CIBIL score. Therefore, you can decide to withdraw cash from the credit card only when there is a great need.
FAQ
Can I withdraw cash from credit card?
Yes, you can withdraw cash from credit card.
How much cash can be withdrawn from credit card?
You can withdraw cash from credit card from about 20% to 40%.
How to withdraw money from ATM with credit card?
Just like a debit card, you can withdraw money from an ATM with a credit card.
How much does it cost to withdraw cash from a credit card?
Withdrawal of cash from credit card attracts a charge of 2.5% to 3%, which may vary depending on the card issuing bank.
What happens if the credit card bill is not paid?
Non-payment of credit card bill attracts higher interest rate on the outstanding balance. At the same time, the credit history will be spoiled and due to continuous delay in bill payment, legal action can also be taken to recover the money from the bank.