credit card and cash?

  • Thread starter Thread starter Sophocles m
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Sophocles m

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i need to know if i can take out cash with my credit card
i want to buy something fom a private seller with my credit card, can i get cash from my card or can i only buy from people who accept credit
 
You can only use a credit card for credit charges, EXCEPT: some banks will allow you to take out a cash loan and charge it to your credit card. But the interest rate on the loan is terrible.
 
You can usually get cash from your credit card at a bank (or ATM if you know your PIN). But there is usually a fee (probably 3% with at least $5 minimum), and interest at the usually higher cash advance rate starts as soon as you get the cash. So it is usually not wise unless you are desperate (or have balance transfer checks at a teaser interest rate).
 
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