A credit card can be used to withdraw cash and repay it repeatedly, but the prerequisite is that it can be repaid and the interest on the cash withdrawal must be borne. This is not cost-effective.

If the bill date is the 20th of each month, the latest payment date is the 11th of each month. You paid back all the money on the 18th. There will still be a handling fee if you pick it up again on the 19th. The bill will come out again on the 20th. The money you withdraw is still on the bill, but if you repay it in full every time, you can enjoy an interest-free period of more than one month after the bill date.

Extended information:

1. Do not use credit cards as debit cards

Credit cards and debit cards are obviously different, because credit cards are different from savings cards. Banks do not give interest, and it is easy to deposit money but difficult to withdraw cash. Even if you deposit your own money into a credit card, some credit cards will incur cash withdrawal fees when withdrawing cash.

2. After installment repayment, you need to pay a handling fee

Credit card installment repayment, regardless of any bank’s credit card, after applying for installment repayment, if you want to repay in full For repayment, handling fees will still be charged, and the handling fees are not cheap. When repaying a credit card, whether to pay in installments or in full, you must think clearly in advance and estimate the money you have before deciding whether to repay in installments or in full.

3. Minimum repayment

Minimum repayment on a credit card. If you use a credit card to apply for minimum repayment, you will not be able to enjoy the interest-free period of the credit card. The full amount will be calculated from the day the card is swiped. Interest, the daily interest is 0.05%, compounded monthly until you pay off the credit card in full. If you can afford to repay the credit card in this situation, you should generally avoid using it because the interest rate is too high.

4. There is a big difference in repayment by swiping your credit card before and after the billing date

Which is the most suitable day to swipe your credit card for consumption? Generally, you can swipe your card the day after the billing date of your credit card to enjoy the longest period of payment. Interest-free period. Try to avoid making purchases with your card the day before the bill is due, as you will not be able to enjoy the maximum interest-free period of your credit card. Brother Xiao Ma reminds everyone that to enjoy the interest-free period of your credit card, you need to repay it in full!

Reference materials:?Baidu Encyclopedia-Credit Card Cash