I have been approved for a credit card and

Question

i would like to know how to get the money all out at once when i get it. i need the 2000 for a down payment on a vehicle. can i just go to an atm and withdrawl all of the money or will i have to find some other way.

Answer 1

When you receive the card, you will be told the amount of credit available and the amount available for cash advances. Be aware that you will be charged a transaction fee for each cash advance (usually 3%) and you will be charged interest from the moment you get the cash advance. The interest on cash advances is usually higher than the interest on purchases.

Answer 2

It depends on the credit card company, but most of them will not allow you to withdraw the entire amount in cash.  Can you charge the down payment to the credit card?  Some dealerships really don't care where the money comes from....some people charge the entire care to a credit card because of the low interest on some of them.

Answer 3

Most credit cards only allow you to pull a small amount of cash like maybe $300. If you are buying the car from a business do they take master card? If it's a private person, do you know a business that might pretend you bought something and give you cash?

Cash back on small purchase a few hundred times might work too.

LOL

Answer 4

Usually you can go into a bank.

Beware though, once you max out a card you will have a rate jacking up to the highest limit they charge for interest!

Maxing out a card sends a red flag to the issuer.  Just expect a very high interest rate.