Quote:
Originally Posted by joeschmoe
If a credit card lets you transfer money directly into a savings account, then the money is extracted quite simply.
But what about cards that consider that a cash advance? How would you go about getting that money into your savings account to be used? I didn't quite understand. Do you take the money out of a credit card that lets you move money into a savings account, and then transfer the debt from that card to a 0% card?
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Pretty much, but first request to transfer a balance from the 0% card to the card that lets you transfer money to a savings account. You don't have to have a balance on that card. When you transfer money to it from the 0% card, you will end up with a negative balance. Then call them up and request a balance transfer to your savings account. This will only work if they don't charge you any fee for balance transfers. Most cards charge a 3% fee with no maximum, so be careful. An easier solution, which I haven't tried personally, is to request a balance transfer from a 0% card to any Citi Bank card that doesn't have any balance on it. Then you can request a credit balance refund through their website.
