In a globe where paying money through credit card is effective, it becomes a rare event to fork over the actual money for something. While it is rare, it’s not unheard either. Even when you require case in hand, the best thing that you can do is use the most valuable tool in the name of a credit card. Getting money from a particular credit card requires knowing two methods. And when you ask yourself how to get instant cash from your credit card, keep the below-offered methods in mind just to make your money transfer process more seamless. In this particular guide, you will be enlightened with the two methods of getting the instant case from your credit card. So, to help you better, we have listed the benefits that you will acquire from credit card that will make you apply for credit card online today.
Method 1 – Getting Cash Advance via Credit Card
The process of getting cash advance via your credit card is also known as the credit card cash advance. This particular service is handy, but it is now free of cost, however. The option comes with transaction fees for every advance. At the same time, it tends to charge higher APRs when compared to the other transactions. So how does this method works? To know about how to transfer money from credit card to bank account, read on.
STEP 1: Ahead of withdrawing the money, you require checking the credit card agreement or safely called online account in order to verify the eligibility of your card. This also ensures you find out the accurate cash advance limit of your credit card. As a matter of fact, the limit will be smaller than the actual credit lines.
STEP 2: Once you are done with the aforementioned step, it is time for you to decide the process of obtaining your funds. As a matter of fact, a common way to get your money from the card is by setting up the cash advance PIN such that using the card in withdrawing money from the ATM becomes easier.
STEP 3: After this, you have to use the credit card at an eligible ATM like that of a debit card’s usage. Don’t want to set up the PIN? Then you can make the best use of photo ID at the local branded bank branch for receiving the cash advance.
Invest in NPS through credit cards
Recently, the government has made some changes regarding the laws related to income tax based on the National Pension Scheme or NPS. Once a person reaches his retirement age, they can withdraw up to 60%, which is a 20% hike, from the total amount of corpus which shall be exempted from the laws of income tax. Moreover, the government has facilitated the contribution to the NPS account from both online and offline. Now, if you want to add some contribution to your NPS account, you can do it from your credit card easily.
In order to make some contribution to your NPS account with a credit card, all you will need to do is log in to your NPS account and then select the tab ‘Transact Online’ and then select ‘Contribute Online.’ Once you have selected the option, you will be asked for your credit card details. After entering the details, click on submit and you will receive an OTP from your credit card bank. The code is a confirmation of the transaction. Enter the code and click on OK, and the process is concluded.
Now that you know the two methods of getting cash from your credit card, proceed effectively. Make sure that you apply for credit card online.