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Can I transfer money by credit card?

Credit cards cannot be used to transfer funds to others. The function of a credit card is mainly consumption, supplemented by cash withdrawal, and cannot transfer money, so cardholders cannot use the credit card to transfer money to others. Credit cards also have certain restrictions on cash withdrawals. Usually, the maximum cash withdrawal limit can only be 50% of the credit limit of the credit card. And cash withdrawals also require interest and handling fees.

The credit card limit is a credit limit granted by the bank based on the applicant's comprehensive personal situation. The cardholder can only use the credit card limit for consumption or cash withdrawal. The function of the credit card is based on consumption. Cash withdrawal is the only option and transfers are not possible.

If you want to transfer the money in your credit card to others, you can only withdraw the money through the credit card cash withdrawal function, and then deposit it into your own debit card or third-party payment platform before you can transfer the money to others. However, there is a limit to the existing limit and a certain fee will be charged.

Usually, the maximum credit card cash withdrawal limit is 50% of the credit limit. Only a few credit cards have a cash withdrawal limit that can reach 100% of the credit limit. Moreover, credit card cash withdrawals cannot enjoy the interest-free period. Cardholders need to start from the day of cash withdrawal. , the cash withdrawal interest is paid according to the daily interest rate of 0.05 on the cash withdrawal amount. In addition to the cash withdrawal interest, the cardholder also needs to pay a cash withdrawal handling fee. Different banks have different credit card cash withdrawal handling fees, usually the rate is around 1-3.

That is to say, if you want to withdraw cash through a credit card and then transfer it to a friend, you will need to pay a handling fee of about 100 yuan to 300 yuan to withdraw 10,000 yuan.

A credit card is a kind of credit card. It is a payment tool provided by banks to eligible cardholders for early consumption. Credit cards do not have a transfer function, so they cannot be transferred to others. We use credit cards to swipe payments. The bank's money is not your own money. Banks issue credit cards to encourage people to use their cards to spend more, rather than to allow credit card holders to withdraw cash. Therefore, credit cards can only enjoy the interest-free period after swiping their cards to make purchases and repay the money on time, while withdrawing cash with credit cards Not only do you need to pay interest, but you also need to pay cash withdrawal fees.

After using the credit card limit for consumption, credit card users only need to repay the money on time and in full within the specified repayment period, then they can enjoy the interest-free period service. If the cardholder is unable to meet the specified repayment period, If you want to pay off the debt within the specified period, you can choose to repay in installments or the minimum repayment. If you choose to repay in installments, you will need to pay an installment fee. The minimum repayment cannot enjoy the interest-free period, and you need to pay the minimum repayment interest at a daily interest rate of 0.05. .