Credit Cards Key » CreditCard Types » Virgin Credit Cards » i want to transfer money from credit card to my debit card,can i then withdraw cash from my debit card?

  #1 (permalink)
: the credit card has 15 moths free balance tranfer offer,so i need some cash in advance,so can transfer the money and then can i withdraw the amount which i need?

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  #2 (permalink)
: no i got done last year i put 500 in my savings account
from credit card and they charged me cash withdrawal,!!
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  #3 (permalink)
: Read the credit card agreement closely. Usually you are charged more for cash advances. It may be better to make purchases on the credit card directly.

The transfer usually means balances transferred from other cards. For instance, if you had a balance owed of $2500 from your VISA card, you could transfer that to a new card. In a promotion the new company may not charge interest on that $2500, BUT would charge interest on purchases and cash advances on the new card.

This from an online ad:
"Save big! Pay zero interest on balance transfer credit cards - O% APR Balance Transfer Offers allow you to save money by transfering balances from high interest rate credit cards."
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  #4 (permalink)
: Please read your Cardholder Agreement. Chances are the "free balance transfer" only applies to transfers of balances from other cards to the card you have mentioned (so the bank can make money on the interest of the balance after the 6 month time period has elapsed).

Additionally, if you make a cash withdrawal, you will have to pay the cash advance rate AND fee which is probably sky high! But, if you need the cash, just apply for the pin # and get a cash withdraw straight from the credit card.
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  #5 (permalink)
: Yes just give them a call (credit card company)and they will do it over the phone ...however there is normally a charge for the transaction of 3% of the amount being transfer ed...
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  #6 (permalink)
: you'll have to pay the withdrawal fee and a higher rate of interest, it isn't free cash
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  #7 (permalink)
: There are some cards that allow this (money transfers at 0% are part of the promotion) and are known online as "super balance transfers". Cards such as Virgin and MBNA offer this.

Most cards however do not offer this and would see this transaction as a cash advance orr money transfer and you would be charged at a higher rate of interest than the standard rate for purchases.

You should be able to ask the bank this before making the transfer. There will however be a transfer fee (usually about 3%)
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