No, this is a credit card arbitrage. If it is operated by a personal POS machine, the operation process will be monitored, and your credit card may be frozen, which will have a certain impact on your credit.
In addition, there are certain risks in using this method to repay, and the cost is very high. First of all, credit card cash withdrawals will charge a handling fee of about 1 to 3, and interest will be calculated at a daily interest rate of 0.05%. , the important thing is that many bank credit card cash withdrawals do not allow minimum repayment, and require a one-time repayment of the principal and the interest incurred. This will cause great repayment pressure, so I am not in favor of doing this.
If you really don’t have the money to repay, see if you can apply for credit card bill installments and spread last month’s debt over several months to repay it to reduce your repayment pressure, although you have to pay a handling fee. , but it is still more cost-effective than calculating interest on the same day. If installment is not possible, try applying for a credit card cash installment to obtain funds and then repay the loan.
In short, there are many solutions to the problem of not having enough money on your credit card last month.
We all know that a credit card can generally enjoy an interest-free period ranging from 20 to 50 days. And if you use three credit cards, you can enjoy the longest interest-free period of 50 days, but you can also extend the shortest period to 40 days. This length of time is almost the ultimate interest-free period. Therefore, if you want to make the most of the interest-free period of your credit card, you must have three credit cards in your hand.
How is this done? We all know that there is a difference between the billing date and the repayment date for credit cards. The repayment date is often 20 days after the billing date.
For example: I now have three credit cards, and I have set the billing dates for these three credit cards every ten days or so. The billing date for one credit card is the 5th of each month, and the billing date for the three credit cards is the 5th of each month. On the 15th, one card is on the 25th.
Between the 6th and the 15th of each month, I will use the credit card with the billing date on the 5th. Between the 16th and the 25th, I will use the credit card with the billing date on the 15th. Use the credit card with the billing date on the 25th between the 5th and the 5th of the following month, and use the three cards in turn.
Because from the 6th to the 15th of each month, the last bill for this card with the billing date on the 5th has been issued. The 6th is the first day of the current bill. From this day on, the interest-free period begins. will be the longest until the statement date of the second card. The card whose billing date is the 15th is used between the 16th and 25th of each month, and it is also used on the first day of the current bill; the third card is similar.
By doing this, you can successfully break down a whole month's expenses into these three credit cards. The core is to maximize the use of the credit card's interest-free period.