Thursday, December 8, 2011

What are some ways to turn credit into cash?

I was just wondering if there are any efficient ways to turn credit into cash($10,000+). I know that I could purchase money orders at the post office and just deposit them but I don't want to have to buy 10+ since the limit is 1,000 per order and I don't know if it shows up as cash advance, does it? There must be a better way to convert credit to cash.|||I'm not sure you can even buy money orders with a credit card. But that might very well be considered cash advance and result in the cash advance fee of 3% to 5%, depending on your card terms. The interest rate would also be at the higher cash rate.





It would be simplier to just take a cash advance on the credit card. Yes, you would have the fees and the higher interest rate. You would also be limited to the max cash advance your card allows. This is usually about half of your limit for purchases.

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