Credit cards can be used to transfer funds, but there are strict regulations. For example, credit cards cannot transfer funds to each other, and credit cards can only transfer funds to debit cards. It should be noted that credit card transfer is equivalent to credit card cash withdrawal, also called credit card cash advance.

The daily interest rate for credit card cash advances is 50,000% of the advance amount, which is the same for all banks. Cash advance fees vary from bank to bank, but are generally more than 1% of the advance amount.

If there is an overpayment in the credit card, which is what we often call the deposit balance, the credit card transfer within the overpayment does not need to pay interest, but there will still be a handling fee. There are two situations for credit card and debit card transfer:

1. Transfer from credit card to debit card

This situation is possible, but you must have a debit from the bank Card, and open one of telephone banking, online banking and mobile banking to make transfers. And you have to pay a certain fee, and just like cash withdrawal, there is no interest-free period, and you will have to pay 0.05% interest every day, which is not cost-effective.

2. Transfer from debit card to credit card

Generally, this situation applies to credit card repayments. Telephone hotlines, business outlets, online banking, etc. can be directly bound to debit cards. Make self-transfer repayment before the repayment date.