How to cash out money from a credit card for no fees and then a balance transfer on a 0% credit card

InvestingNow

Hi there,

In the past I used to cash out money from my Halifax clarity credit card using Revolut top up for no fee, let see £7000 and then to have ready 24 months 0% on balance transfer with no fee. That way I would have £7000 in my account to do whatever I wanted, knowing that I had 2 years to transfer it back. 

I was thinking to get a credit card with 0% on balance transfers and no fee to do the same as before but I won’t be able since I just realised that from 8th July Revolut is not allowing to top up from credit card. Is there any other way to do something similar paying no fees?

[Deleted User]

A 0% purchases card is your best bet, freeing up the cash you would have spent.

InvestingNow

I already have purchases 0% credit card. I want the money in my account to do it whatever I want. I can invest it, put it on a saving account or travel with it. I just want it liquid.

[Deleted User]

If you don't want to do it via a purchases card, you're out of luck. 

Any other route will incur fees, which you said you don't want.

Using a purchases card frees up cash, making it liquid, meaning you can do what you want with it.

MalMonroe

That sounds too good to be true, is it really a proper thing? I'd like one, too.

InvestingNow

I have done it few times with Revolut over the year. Now top ups from credit cards are finishing 

Vortigern

MBNA sometimes offer money transfer with no fee, but with interest payable from the start.

You can MT from MBNA to a bank account, then as soon as you have the cash, BT from MBNA to your 0% BT card.

You'll pay a small amount of interest (a few days) to MBNA

grumbler

InvestingNow said:

In the past I used to cash out money from my Halifax clarity credit card using Revolut top up for no fee

My old Halifax Clarity still offers free ATM withdrawals.

callum9999

grumbler said:

InvestingNow said:

In the past I used to cash out money from my Halifax clarity credit card using Revolut top up for no fee

My old Halifax Clarity still offers free ATM withdrawals.

So does the current version from the looks of it. There's no need to use Revolut at all, you can withdraw from an ATM or Halifax counter with no fees (though everytime I've done it I've had disagreements with the staff who insist there is a fee "because it's a credit card" when I knew for a fact there wasn't!).

GentleGiant01

can you send someone the money on PayPal for them to PayPal it back to you right away? Then you can move it to your bank account. 

Not sure if PayPal would do extra checks on large sums though, and you’d have to rely on them / your friend giving it back. 

FYI I have used a credit card to pay for something (friends and family) on PayPal and didn’t get charged as a cash fee, it was shown as a standard credit card payment. 

Westie983

GentleGiant01 said:

can you send someone the money on PayPal for them to PayPal it back to you right away? Then you can move it to your bank account. 

Not sure if PayPal would do extra checks on large sums though, and you’d have to rely on them / your friend giving it back. 

FYI I have used a credit card to pay for something (friends and family) on PayPal and didn’t get charged as a cash fee, it was shown as a standard credit card payment. 

When I have paid for something using F&F on Paypal, I wasnt charged a fee but if you are sending money to another person then only my debit cards can be used, I can't use my credit cards.

Westie983