What:
I summarised a few methods to obtain cash advance/flow by leveraging your credit a.k.a credit cards with lower interest rate.

Reason:
Traditional way to leverage your credit to obtain advance/flow can have very high interest rate
1. Credit card cash advancement/late payment can range from 9-21% p.a.
2. Personal loan interest rate can range from 4-18%

By using methods below, you can leverage your credit cards to obtain around 50days of cash flow to
1. Reduce flexi loan interest. eg: mortgage
2. Investment for higher return rate.

Bonus:
You can use cashback credit cards to further reduce the cash conversion loss or easy payment plan to extend the repayment period. (Some credit cards do offer 0% charges and 0% p.a. interest rate)




This post has been edited by LastIntel: May 10 2020, 08:26 PM

Umm, don't you have to pay your credit card as well ?!

Erm.. Of course you need, but its cash advance.

cash advance with CC got no fees?

Cash advances have notoriously high fees and interest charges so before you even think of taking out cash from your credit card
https://ringgitplus.com/en/blog/credit-card...ed-to-know.html

I understand that you are trying to get cash out of credit card via eWallet so that the total fees will be lower.
However in the end of the day, you still need to pay back the CC, else you will be paying from 1.25% to 1.5% per month on your outstanding balance.

Definitely, but now you can have around 50 days of free cash flow.

This post has been edited by LastIntel: Mar 15 2020, 11:51 AM

Conservatively, how much can we earn by doing this?

It's up to you on to what extend you can utilise the cash flow.


If you are using cashback credit card, you can earn certain amount of cashback depending on your credit card.

Bcos it is in ewallet... There is a limit to what you can spend and the amount you can spend......

Yes. I listed the limit in the chart as well. You can choose to cash out.

Thks for the lists... Useful for those that has no cash flow problems, can have time to monitor n track the used money and have places to use the e wallets.
Like decades ago, some suggested using the free interest period of cc to hv multiple cards to keep rolling the usages to optimise the free interest period....
Until if not properly monitored... It boils over

Few people got banned on prestopay withdrawing money

Thanks for info.
I am not recommending Presto, the transaction needs too much working days.

Ya. You need to more discipline in repaying the cc every month of course.

thus I think it is only GOOD for this "ONCE" extra month of free cash flow....
for after this extra "ONCE", then it is same again....

example, monthly pay required expense (RM1k),,,,,
if use your method (CC to ewallet RM1k).... use that e wallet cash (RM1k) to pay your monthly expense (RM1k). so you save using your own money (RM1k) for that month,....
then next month onward, you need to pay required expense (RM1k) PLUS the CC expenses incurred into E wallets (RM1k)....
my assumption is correct?

Wow, thanks for the headups!

Thereby, swipe only half the credit limit to your ewallets, cash out and dump into whatever invesment you deem safe,
Once the card statement(s) out, swipe the remainder to pay for it.
Now you have your half capacity card(s) to rinse and repeat.

deem safe and within the limited time frame....

just monitor and track it efficiently....

I did put the transaction limit and fee in the chart.