You can transfer your credit card balance into your bank account by drawing funds from ATM and then crediting it to your bank account, do online transfer, draw a cheque or visit your bank branch in person.
For you to withdraw your money which is your bank account balance, you can use a debit card. Whereas, a credit card is a loan offered to you by your credit card issuer. You are required to make repayments on a monthly basis. Let us explore how to transfer your credit card balance into your bank account.
You can use your credit card in an ATM near you, enter your secret Pin and draw the amount required. You can only withdraw an amount lesser than the credit limit. Once cash is withdrawn, you can deposit the funds into your bank account.
If your credit card can be logged in using an online banking account, then you can log-in into your credit card account using your username and password and then transfer the required funds into your savings or chequing bank account.
If your credit card is eligible to receive a convenience cheque, then you can apply for the same. You can draw a cheque written to yourself and deposit at your bank.
You can visit your credit card issuer, withdraw the funds, and then deposit it into your bank account.
Since the cons outweigh the pros of transferring your credit card balance into your bank account, you can use alternative methods such as taking out a personal loan, using overdraft feature, or borrow from your friends or family.