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Updated about 8 years ago on . Most recent reply

User Stats

34
Posts
12
Votes
James Ehrig
  • Fair Oaks, CA
12
Votes |
34
Posts

How do you siphon cash from credit cards with minimum fee?

James Ehrig
  • Fair Oaks, CA
Posted
Hello, I've been thinking about using credit cards to purchase another rental property then re-financing and paying back the credit card. Does anyone know how to siphon the cash from the credit cards without or with a very minimal cash advance fee? I know of a few programs where they will teach you how to utilize this strategy however it costs money for the teaching. I will gladly pay for this knowledge but I figured I would try to figure it out on my own first. I know I can get the Apple cube or the PayPal cube but I believe they charge 2 1/2 to 3% per purchase. However, 3% interest for money is pretty good. As long as I pay off the balance prior to the interest free credit card time frame Ending. ? Any other ideas? Thanks for reading. Any input would be greatly appreciated. Jimmy

Most Popular Reply

User Stats

691
Posts
610
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Samantha Klein
  • Investor
  • Monroe, WI
610
Votes |
691
Posts
Samantha Klein
  • Investor
  • Monroe, WI
Replied

Wait until your credit card company sends you those convenience checks with a 0% APR period, usually 15-18 months and usually charge 3-5% of the amount you borrow, that is cheap money if you need it and have an exit strategy for how you're going to pay it off in full before your APR promo ends.

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