Methods to Convert Your Credit Card to Cash

There may be a need for cash due to some negativities or problems that occur, and in such cases, applying for credit may be impossible for some reason. Therefore, consumers will think of cash advance withdrawal, but the most important problem here is that the interest rates in cash advance withdrawals are high, or the entire credit card limit cannot be withdrawn as a cash advance.

There are some ways that people who want to convert some or all of their credit card limit to cash because of their urgent cash needs, but none of them are recommended. The reason why it is not recommended is that the costs incurred during the execution of the procedures are high.

Converting Credit Card Limits to Cash

Converting Credit Card Limits to Cash

People who want to convert their credit card limit to cash should think of a different amount of time before doing this if possible. Because this transaction will cause both the credit card debt to increase significantly with interest and the funds withdrawn due to the costs incurred during the transaction will not be captured in full. Also, converting the credit card limit to cash is not ethical and if the bank detects this situation, it may label the transaction as a suspect.

Is It Legal to Convert Your Credit Card Limit to Cash?

Whether the process of converting the credit card to cash is in accordance with the law is separated in a very fine line. If any person earns profit during the conversion of the credit card limit to cash, that is, if there is an interest income from the sale of money of a different person other than the bank, the transaction is illegal and usury. On the other hand, cash advance withdrawals, etc. If the credit card limit is converted into cash with transactions, there is no legal problem.

How to Convert Credit Cards to Cash

How to Convert Credit Cards to Cash

There are a number of methods that can be applied to convert credit cards into cash, and it will be useful to address each of these methods separately. Methods such as shopping on virtual pos devices on e-commerce sites, applying to jewelers, simultaneous buying and selling, paying bills or purchasing a smartphone are the most common methods.

Shopping on E-Commerce Sites

Most shopping sites allow to be included in the system of various shops rather than having their own product inventory, thus allowing sales to many more people with much more product variety and lower inventory costs. The best-known examples of this are large e-commerce sites that allow you to create a business profile.

When you open a business account on these e-commerce sites, you do not have to start a business because of the expenses made up to a certain limit and the company pays taxes on your behalf. E-commerce sites, which do all this with a commission of 5%, deposit the income from the payment made to the IBAN number you specified previously.

  1. Once you decide which shopping site to use, open two different accounts or use your existing accounts.
  2. Post a sale advertisement for an imaginary product and follow all procedures until the stage can be collected from the buyers and ensure that the product is successfully listed.
  3. Find out how much commission the shopping site will receive from the transaction and set your credit card limit accordingly.
  4. Purchase the product you put on the sale through the other account you have opened, using the online payment method.
  5. Indicate that you received the product one day after the sale was successful and the payment you made on the shopping site, and confirm that the money was transferred to the relevant account.
  6. After giving your confirmation, you will see that the money has been deposited in the IBAN number that you previously specified in the vendor profile.

If possible, the information of the seller and buyer should be different. Open a seller account on behalf of someone you trust and share the bank account information of the person you trust here. Let the payment you make reach the relevant person and you get your money from this person. Otherwise, it may be possible for the transaction to fail if the examination is carried out.


Jewelers are the most frequently used institutions for converting the credit card limit to cash, and the fact that it is being used by more people day by day made it necessary to make some arrangements regarding credit card installments. Although the opportunity for installments in jewelry shopping was eliminated after the arrangements, the number of consumers who turned their limit into cash through jewelers is still high.

Consumers who want to convert the credit card limit to cash in goldsmiths, all they need to do is go to any jewelry shop and do gold, silver, etc. buying a valuable product. If a credit card payment is made after the purchase, it will have a convertible value, just like cash, so it is possible to sell this product in a different jeweler or the same jeweler. If trading is not desired, money can be withdrawn directly from the commission.

If you are wondering which jeweler to cash from credit card shopping, it may be useful to know that almost every jeweler is doing this. It is enough to indicate that you want to make your shopping with a credit card by visiting the jewelers, you can sell the gold you purchased to a different jeweler or you can return it to the same jeweler by exchange difference.

After the transaction, the jewelers receive approximately 5% commission, it may be good to apply to a different jeweler for the offers above.

Shopping for Different People

If a relative or someone you trust needs to shop, you can request that you use your credit card. In its simplest form, it is a method that you can use to convert your credit card limit to cash without paying any commission, even if you use your credit card and pay the shopping price to you even when shopping for groceries. But the most important thing to note here is that the person you shop on behalf of will pay cash.

Paying Invoice

You can request the cash from your relative or someone you trust by paying their bills with your credit card. The person you pay the invoice can pay the invoice amount to you in cash.

Getting a SmartPhone

After purchasing a mobile phone or tablet with a credit card, you can convert your credit card limit to cash by selling this product to a different person or selling it back to where you bought it.

0-Zero Interest Cash Advance

0-Zero Interest Cash Advance

Thanks to this credit card product, it is possible for consumers to draw up to 900 USD with a zero-interest 9-month installment cash advance. The only condition you need to fulfill for your withdrawal is to have a credit card with a limit of at least 900 USD.

The credit card application made is evaluated and responded within a very short time, and a credit card can be obtained within 2-3 business days. It is not necessary to use the credit card after the cash advance withdrawal, the demanders can close the credit card and continue to pay the cash advance installments. For detailed information and application procedures, it will be sufficient to go to the nearest Good Finance branch.

You can learn about banks that have more flexible rules in obtaining credit cards and you can make your credit card application by taking a look at our article titled Banks Offering Credit Cards for Low Credit Ratings.

Categories: Uncategorized