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Join Date: Nov 2003
Location: florida
Posts: 49
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How do you convert your credit cards to cash?
Ok heres the deal I need cash right away, I only have credit cards, how do I use these credit cards to turn it into paper stuff in my hands or to my bank. In other words I need the cash in my hands or the bank. I dont need them swiped unless they are going to my bank.
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03-10-2004, 04:26 PM
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That would be called a cash advance my friend. Most banks, pawn shops, casinos etc. will gladly advance you cash against your ccredit card. You typically pay an upfront fee, say $10, and then interest from the day you take the cash. You wiol also pay interest on the entire balance from that moment as well. Not advised unless a true emergency.
Ok, when I was in collage I dated a girl and when parked outside her family beach house in NJ had two tires slashed, discovered at 2am. Snuck out late, discoverd the problem, but couldn't go back in. I changed one and drove about 2 miles on the other. Called AAA, tow truck came 2 hours later, and car was towed to the only all night auto repair in Atlantic City. Another 2 hour later and I had 2 nice new used tires and a $180 bill. They only took cash, so I headed to the casino and got a little cash advance with Dad;s credit card. Oh how I miss my youth. John
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03-10-2004, 04:56 PM
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cash advance i am trying to aviod that since the amount would 12k lol i know i am crazy but oh well
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1989 911 Cab Yes I am one of those people that likes the 996 |
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03-10-2004, 05:12 PM
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The only way to avoid the cash advance fee and the usually higher interest that goes with a cash advance is to make a purchase. Either the person wanting to receive the cash somehow makes this a credit card sale or you find a business that takes credit cards and they "broker" you some cash. There is an outside chance you can buy something, or a few things and return them receiving cash for their return. This is rare, but if you know the business owner, it can be done.
12 large, that's a lot of money. Especially on open credit. To have 12,000 appear suddenly on your card(s) will destroy your FICO. |
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03-10-2004, 05:35 PM
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was thinking more of doing it on 2 cards 5K and 7k ...not too worried about my fico score i already have my credit i need
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03-10-2004, 06:01 PM
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Location: Linn County, Oregon
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I dunno what's happening or why...but I'm sure glad I'm not you...this sounds like a sure fire recipie for financial disaster...
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent." -Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.) |
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03-10-2004, 06:09 PM
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http://www.thesmokinggun.com/archive/fakemillion1.html
need cash? join the club......but you could try it her way 
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03-10-2004, 06:10 PM
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Quote:
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03-10-2004, 06:37 PM
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one of gods prototypes
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i'm sure he meant nothing...........
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Brought to you by Carl's Jr. |
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03-10-2004, 06:52 PM
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poof! gone |
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03-10-2004, 06:56 PM
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Location: Mid-life crisis, could be anywhere
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Cmon guys.. he has his back against the wall for whatever reason.... JD, get the cash advance if you need to... it won't be the end of the world. $12k these days isn't a whole lot. Only thing I can add: Before you do it, if your credit is good, try to apply for a couple of cards online that have good cash advance APR rates. You could probably have access to the cash pretty quickly and it might be much better terms than your current cards.
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'95 993 C4 Cabriolet Bunch of motorcycles |
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03-10-2004, 06:59 PM
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If you're making 10 and 12/hr, 12K is a fortune. |
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03-10-2004, 07:20 PM
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i have my reasons for what i am doing sorry if it seems like i was being rude...if your making 10 to 12hr, 12k is not a fortune...its depends how your living is...I only have me to look out for me...lets just say something came along that was right
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1989 911 Cab Yes I am one of those people that likes the 996 |
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03-10-2004, 07:22 PM
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Sorry On-ramp, I guess I assumed that not many people on this board (owners of 911s) are making 10-12 per hour. You're right... $12k would be a lot. Hope I didn't offend.
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'95 993 C4 Cabriolet Bunch of motorcycles |
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03-10-2004, 07:29 PM
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03-10-2004, 07:32 PM
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Let's see 10/hr, that's about $400/wk, working 40hrs/wk
after taxes, that's about $272/wk..... How many weeks to make 12K.......hmmm.. 12,000/272 = approximately 44 weeks.. sooo, you have to work 44 weeks, 40hr/week and not spend a dime, to save up 12,000.... I'd say that amounts to a "fortune" Have a nice day motion, no offense taken....btw, what happened to your hair?looks like you had a fight with a cotton candy machine and lost
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03-10-2004, 07:34 PM
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12 x 80= $960 working 80hrs/2 weeks after taxes thats $360 a week hmmm the odds look better but who really makes $12 factor in $4 more dollars
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03-10-2004, 08:23 PM
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Well, as a (semi) retired financial planner, I would have to add my voice to those who would say that putting $12k on credit card(s) is a LOT of money to most people. I would hope this is an absolutely necessary purchase. Not to flame anyone, but I tend to advise toward the cautious use of credit. You never know when a bona fide emergency may come along. If this is the case and there is no other way, then that settles the question. Can you mortgage something? Do you own any real property? That could be an alternative. Other than that, there is no easy way to borrow that much against a credit card UNLESS your line of credit is more than the amount required.
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Bob S. former owner of a 1984 silver 944 |
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03-10-2004, 09:26 PM
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What?!?!
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Because you do something on credit and over-extend yourself and if things get bad in the "just you" world, what next? You say "Ah, screw it! It's just me, I'm going bankrupt." Then the rest of us pay higher prices or interest rates so the companies can the recoup the money you lost them. There's millions of "just me" out there and it adds up. THAT'S what. If I had a nickel for every time I've heard this very scenario, I could fill my head with nickels. And that's a LOT of nickels. And I sincerely doubt that his "back is against the wall". I guarantee it's a 'want' not a 'need'. Right?
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running shoes, couple tools, fishing pole 1996 Subaru Legacy Outback AWD, 5speed 2002 Subaru Impreza WRX, 5speed 2014 Tundra SR5, 4x4 1964 Land Rover SII A 109 - sold this albatross |
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03-10-2004, 09:29 PM
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OK JB, Tell us what's right.......
Something cool?
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Warren & Ron, may you rest in Peace. |
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03-11-2004, 05:58 AM
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1984 Porsche 911 3.2
1985 Porsche 911 carrera targa 3.2
1979 Porsche 911SC 3.0
1985 Porsche 911 3.2 (Still in the stable)
1993 BMW 740 IL (Sold)
1985 Mercedes 380 SL (Sold)
1992 Harley Davidson Fatboy (Sold)
1971 Mercedes 280 SL (Currently being restored)
