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 Credit Card to Cash

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SUSyklooi
post Mar 15 2020, 11:44 AM

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QUOTE(MUM @ Mar 15 2020, 11:41 AM)
cash advance with CC got no fees?
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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
SUSyklooi
post Mar 15 2020, 12:43 PM

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

SUSyklooi
post Mar 15 2020, 12:56 PM

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QUOTE(LastIntel @ Mar 15 2020, 12:47 PM)
Yes. I listed the limit in the chart as well. You can choose to cash out.
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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
SUSyklooi
post Mar 15 2020, 02:26 PM

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QUOTE(LastIntel @ Mar 15 2020, 02:11 PM)
Ya. You need to more discipline in repaying the cc every month of course.
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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?


 

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