Disclaimer: Consult a tax qualified professional, attorney and credit card company terms of service before proceeding.

Liquidating Credit Cards to Fund Your Business Ideas

Does getting $10,000 cash at zero-percent interest sound exciting to you?

What if there was a way of liquidating credit cards for this kind of quick cash with 0% APR?  One that you could take advantage of over and over again?

Would you do it?

Why Learning How to Turn Credit into Cash Is so Crucial

When you start a business or invest in real estate, you will need a loan for your startup costs. However, you will have to supply a bank with a verifiable source of income and your tax returns. Or, you can take out a second mortgage or get a car loan. No one wants to do that.

Let’s face it. What you really need is unsecured credit. And the easiest way to get that is by liquidating credit cards.

What you are about to learn is proven to work!

However, there are a few challenges you will face in the process of turning credit card into cash. First, you will need to do some research to find the right credit cards to use. Then you will need to keep track of your financial transactions in one place to manage them.

That’s it! Now you’re closer than ever to learning how to turn credit into cash.

Coming up: How to Get a Cash Refund From Your Credit Card Company!

So keep reading. Our strategy for liquidating credit cards covers everything. We will show you how to turn credit into cash – minus the high interest and transaction fees!

You Don’t Necessarily Have to Get a Cash Advance to Get Cash

Most people know what a cash advance is. You go to the ATM or the bank and get money advanced on a credit card. There is a substantial fee for the transaction and then the interest rate is usually about 25% APR.

This is not for you! And it’s the first mistake people make when they try to turn credit card into cash.

They take out a high-interest loan on one credit card and max it out. Then the high-interest rate means they never pay back the principal on the loan. All they have is bad credit card debt.

The smart investor, though, uses a balance transfer strategy to get the cash advance and then pays it off right away. How do they do this?

Here are 3 easy steps for liquidating credit cards:

• Step 1: Find a credit card that will let you take the highest cash advance possible. That’s the card to get first.
• Step 2: Find three or four other credit cards that will let you transfer a balance for 0% APR for twelve months. These are usually offers you can find easily once you have signed up for your first credit card. (If you can get one credit card, banks will be eager to give you more offers at a better rate. This is where the 0% APR offers come in.)
• Step 3. Take as large a cash advance as the first credit card will allow. Then immediately transfer the balance to the other cards at 0% APR.

Way to go! You now have a 0% APR loan you can pay off in easy installments within the next year!

You will also have a zero balance on the first card where you took the cash advance. Sure, you may have had to pay the initial cash advance fee, depending on the card. But there is nowhere you are going to get a deal like this for interest-free cash! So your initial cost for a cash loan is absolutely the lowest you can get in the banking industry!

Now you can invest the cash in your business and pay it back interest-free for a year!

Once you do, you will have the kind of credit you need to get even more credit. That is if you still need it. Since your first credit card has a zero balance, you can borrow on it again whenever you want!

Coming up: How to get your roommates to make your credit card payments!

Get Instant Cash from a Balance Transfer and Refund

If you already have a credit card with a low balance, there is another way to get cash from it. Let’s say you have a balance transfer offer of 0% from one of your new cards. You can transfer the maximum allowed from the 0% interest card to the card with the low balance.

For example, if the low balance on your existing card is $300, ask to transfer $3,000 to it. Then you will have a balance of negative $2,700 on your original card. Did you know that you can call the credit card company and they will issue you an overpayment check?

This is a check or cash money that can go right into your bank account.

So you have another way to get a $3,000 cash loan at 0% APR!  Or you can also use this negative balance to pay off any bills that accept credit cards. You will still be paying 0% interest – because you are not actually charging anything.

Note: This only works on an existing credit card with a balance. Don’t balance transfer to a credit card with a zero balance. The bank will not accept the transfer on a zero balance credit card. (All you need is a very minor balance for this to work.)

Use Convenience Checks to Turn Credit Card into Cash with Lower Fees

Convenience checks are the checks that come with your credit card statement in the mail. These are blank checks you can write out to anyone. The same fees and interest apply, though, as using your credit card for a cash advance. So if you write the check out to yourself and put it in your bank, it works like a cash advance.

However, this is not always true.

To get you started using convenience checks, a bank may send them out with a special offer. Just like they sent you a 0% balance transfer offer. This will be something like no cash advance fee or 0% APR for 6 months. If you use the checks by a certain date.

Always be on the lookout for special offers – and liquidating credit cards for cash will work faster.

Coming up: Become a merchant that accepts cards and really learn how to turn credit into cash!

Get More Cash With Companies That Accept Credit Cards and Mail out a Check

There are also companies that will charge your credit card and send out a check on your behalf. Of course, since even utility companies take credit cards, this mainly applies for rent. Most landlords want cash, not credit.

These companies, like Plastiq, RadPad, RentMoola, Urbanr, and Venmo are all online. They charge 1.5% to 2.5% of each transaction amount. They charge your rent to your credit card like a purchase. Then they send a check to your landlord.

Which means that this charge counts as a straight purchase on your credit card, with no cash advance fees. Which also means that if you have roommates, you can charge your entire rent.

Then take their cash and put it in your bank account.

These companies will also take multiple cards for one rent check, which is really flexible. This is why it is important to have three or four cards to turn credit cards into cash.

Always keep your options open when you are using a balance transfer strategy to invest in your future.

A Merchant Account Will Turn Credit Card into Cash

A merchant account is a business account that will also help with liquidating credit cards. This is because when you open a merchant account, you can take credit card payments from other people. This is money that goes right into your bank account as cash.

You can then use the cash to pay off a balance for when you take a cash advance of your own.

So when can you take cash from other people as payments?

If you have roommates, you can take their share of the rent on their credit cards. Or if anyone owes you money, they can pay you by using their credit card. If you are starting a business you can take credit cards as payment.

It all goes into your bank account as cash, minus the processing fee.

All you need is a card reader and a credit card processor. The card reader goes on your cell phone so you can take payments anywhere. The money will be in your account within a few days! Some of the top credit card processors are Square, Payment Cloud, Leaders Merchant Services, and Flagship.

Many of these processors do not run a credit check or require you to have a business checking account. Some specialize in high-risk businesses or people with bad credit. 

This is another way to turn credit card into cash you may not even have considered.

Final Thoughts on How to Turn Credit into Cash:

As you can see, there are many reasons why liquidating credit cards into cash works:

• Easy, monthly payments all applied to your principal balance
• Unsecured credit that without using your assets as collateral
• Minimal credit and background checks
• Can be used over and over
• Instant access to cash when you need it
• Will improve your credit score

Learning how to turn credit into cash and liquidating credit cards is an exciting opportunity! But what do you think? Is this something you think you’re ready for? If so, leave your comments below!