How to convert to cash (without using Advance)

Chirurgie

I have a high limit credit card, which I would like to find way to convert to some cash (without using card advance). Is there any item I can buy (ideally digital) to sell immediately and get money in return? Any suggestions or tips? Thanks

eskbanker

You might find something useful or relevant in this recent thread along the same lines:

https://forums.moneysavingexpert.com/discussion/6297312/best-way-to-convert-10k-card-balance-to-cash/p1

Realistically there's no chance of reselling something without incurring a significant loss - why would anyone buy second hand for the same price as new - so you might find that cash advance fees are (relatively) sensible if you really need to do this....

JenB79

If you have an Apple store nearby, buy any phone from the iPhone 13 range this Friday (if available) and then sell it somewhere like AVForums Classifieds (free to sell) to get most if not all of your money back via bank transfer or paypal gift. On AVF members will happily pay full RRP providing the phone is still sealed, with a 12 month warranty and you have proof of purchase.

But then you do realise you have to pay back the credit card company?

y3sitsm3

JenB79 said:

If you have an Apple store nearby, buy any phone from the iPhone 13 range this Friday (if available) and then sell it somewhere like AVForums Classifieds (free to sell) to get most if not all of your money back via bank transfer or paypal gift. On AVF members will happily pay full RRP providing the phone is still sealed, with a 12 month warranty and you have proof of purchase.

But then you do realise you have to pay back the credit card company?

So the AVF members are idiots?

Why would they pay almost new price for a phone with no consumer rights when they could just buy from Apple directly?

Not forgetting that taking a bank transfer is a good way to get scammed.

Chirurgie

JenB79 said:

If you have an Apple store nearby, buy any phone from the iPhone 13 range this Friday (if available) and then sell it somewhere like free to sell) to get most if not all of your money back via bank transfer or paypal gift. On AVF members will happily pay full RRP providing the phone is still sealed, with a 12 month warranty and you have proof of purchase.

But then you do realise you have to pay back the credit card company?

Yes am aware I have to return it but it is 18 months away so I have plans in place. I will see if iPhone 13 available online to buy to flip then. Thanks

JenB79

y3sitsm3 said:

JenB79 said:

If you have an Apple store nearby, buy any phone from the iPhone 13 range this Friday (if available) and then sell it somewhere like AVForums Classifieds (free to sell) to get most if not all of your money back via bank transfer or paypal gift. On AVF members will happily pay full RRP providing the phone is still sealed, with a 12 month warranty and you have proof of purchase.

But then you do realise you have to pay back the credit card company?

So the AVF members are idiots?

Why would they pay almost new price for a phone with no consumer rights when they could just buy from Apple directly?

Not forgetting that taking a bank transfer is a good way to get scammed.

1. Considering some iPhone 13 models  pre-ordered online from Apple are taking 4+ weeks for delivery then those who don’t have an Apple store nearby and don’t want to wait weeks, will happily buy one from the likes of AVForums provided it comes with Apple receipt and sealed. Apple 12 month warranty starts the moment any sealed phone is activated. Last year plenty of folks were selling their brand spanking new IPhone 12 on AVF classifieds on release day, eg they had a change of heart. 

2. Bank transfers are extremely common on AVF classifieds and provided you deal with a longtime trusted member with 100% feedback then you’ve got absolutely nothing to worry about. I’ve sold and bought loads of things there and never had any issues with my bank account. Though if someone is new there , for obvious reasons they would be expected to post the goods first (to a trusted member) before receiving the cash. 

y3sitsm3

JenB79 said:

y3sitsm3 said:

JenB79 said:

If you have an Apple store nearby, buy any phone from the iPhone 13 range this Friday (if available) and then sell it somewhere like AVForums Classifieds (free to sell) to get most if not all of your money back via bank transfer or paypal gift. On AVF members will happily pay full RRP providing the phone is still sealed, with a 12 month warranty and you have proof of purchase.

But then you do realise you have to pay back the credit card company?

So the AVF members are idiots?

Why would they pay almost new price for a phone with no consumer rights when they could just buy from Apple directly?

Not forgetting that taking a bank transfer is a good way to get scammed.

1. Considering some iPhone 13 models  pre-ordered online from Apple are taking 4+ weeks for delivery then those who don’t have an Apple store nearby and don’t want to wait weeks, will happily buy one from the likes of AVForums provided it comes with Apple receipt and sealed. 

2. Bank transfers are extremely common on AVF classifieds and provided you deal with a longtime trusted member with 100% feedback then you’ve got absolutely nothing to worry. I’ve sold and bought loads of things there and never had any issues with my bank account. Though if someone is new there , they would be expected to post the goods first (to a trusted member) before receiving the cash. 

1.  OP didn't preorder though, did they? Telling them 5 days after the preorder started is a bit late.

2. Bank transfers are also increasingly used to scam people, hacked accounts are a thing.  Of course, the idea is a complete non-starter anyway as I said above.

Buying stuff on a credit card to flip is dumb.

JenB79

y3sitsm3 said:

JenB79 said:

y3sitsm3 said:

JenB79 said:

If you have an Apple store nearby, buy any phone from the iPhone 13 range this Friday (if available) and then sell it somewhere like AVForums Classifieds (free to sell) to get most if not all of your money back via bank transfer or paypal gift. On AVF members will happily pay full RRP providing the phone is still sealed, with a 12 month warranty and you have proof of purchase.

But then you do realise you have to pay back the credit card company?

So the AVF members are idiots?

Why would they pay almost new price for a phone with no consumer rights when they could just buy from Apple directly?

Not forgetting that taking a bank transfer is a good way to get scammed.

1. Considering some iPhone 13 models  pre-ordered online from Apple are taking 4+ weeks for delivery then those who don’t have an Apple store nearby and don’t want to wait weeks, will happily buy one from the likes of AVForums provided it comes with Apple receipt and sealed. 

2. Bank transfers are extremely common on AVF classifieds and provided you deal with a longtime trusted member with 100% feedback then you’ve got absolutely nothing to worry. I’ve sold and bought loads of things there and never had any issues with my bank account. Though if someone is new there , they would be expected to post the goods first (to a trusted member) before receiving the cash. 

1.  OP didn't preorder though, did they? Telling them 5 days after the preorder started is a bit late.

2. Bank transfers are also increasingly used to scam people, hacked accounts are a thing.  Of course, the idea is a complete non-starter anyway as I said above.

Buying stuff on a credit card to flip is dumb.

1. Please read my first post again. I said the OP could potentially buy/reserve one from a PHYSICAL Apple store - if he has one nearby - on release day, as many Apple stores will have stock available unlike online orders for home delivery which have a wait time of a few weeks at least. 

2. Contrary to popular opinion, not every stranger is out to rob/scam you if you give them your bank details. We’re not talking about Gumtree here, it’s AV Classifieds where majority of regular buyers/sellers with 100% feedback are trustworthy. I suspect your doubts are based on the fact that you've never used or heard of AVF classifieds, which is understandable.

MrFrugalFever

The first thing I would look at is if you are eligible for a money transfer with your credit card provider. 

If not, then your options are limited. Most credit card companies have closed their loopholes with certain things and changed their merchant codes or something so that certain transactions are classed as ‘cash advances’ incurring the higher interest rates. Curve used to be a great tool for this, using it to pay in to accounts like Revolut (which no longer enables top ups I believe) as it was a MasterCard debit card using an underlying credit card... 

there may still be savings or banking apps out there that allow top ups this way but unlikely!