This is not called credit card cashing. Overdraft cashing is the function of credit cards, but banks do not encourage making such high-risk investments with the money overdrawn by credit cards, and they can't find out where your cash is going. The so-called credit card cashing means that you swipe your card at a company and use the corresponding money after swiping the card, which not only enjoys the interest-free period, but also allows you to use the money. This is not allowed by banks and laws.

Credit card cashing refers to the behavior that the cardholder withdraws the funds in the credit limit of the card in cash by other means without paying the bank withdrawal fee.

Regular cash withdrawal

Because credit card users have a "interest-free consumption" period of up to 56 days, once they cash out, they can use bank loans without paying interest during this "interest-free period". Therefore, cashing in the credit card makes the cardholder avoid the high cash withdrawal fee of the bank while getting cash, which is equivalent to getting an interest-free loan, which is very attractive.

to put it simply, cashing in a credit card is the act of withdrawing cash within the credit card limit by other means. Therefore, the way of cashing in credit cards is constantly being renovated, and there are even many forums and hot posts on the Internet where netizens exchange their cashing experiences. The credit risk of credit cards is further amplified, and the participation of illegal merchants and illegal intermediaries has a great impact on China's financial order.

double cash

some banks' credit cards have an installment payment limit, and consumption can be paid in installments. The installment payment uses the installment amount of the credit card, and the available amount in the credit card will not be reduced, so the credit card holders can use the credit cards of these banks to "spend twice": pay in installments first, use up the installment amount, and then directly swipe the card once to consume the available amount in the credit card limit, so that they can spend the installment amount+the credit card limit.

empty card cashing

The credit cards of some banks mentioned above have installment quotas, which have little to do with the credit card's own quota, and these installment quotas can be used to buy things alone. Even if the credit line in the credit card is used up, they can also be used to buy goods, that is, when the original credit line in the credit card is used up, they can also be paid by installment quotas, thus realizing shopping with empty credit cards, and then selling the purchased goods to merchants at a discount.