Credit cardholders do not have the provision to transfer money from a credit card to a debit card.
Alternatively, some credit card issuers offer options like balance transfer credit card and interest-free ATM cash withdrawal facility to help in situations that require liquid cash.
Can you transfer money from a credit card to a bank account?
The short answer is no, it’s not a good idea to transfer money from a credit card to your bank account. The interest rate on a cash advance is typically higher than the purchase APR on a credit card.
Can you transfer money from a debit card to a bank account?
Through MobiKwik’s digital wallet, you can transfer money from the debit/ credit cards of any bank to any bank account. The money can be transferred from credit/debit cards to any bank account at a minimal transaction charge. To avail online money transfer to bank, KYC is mandatory.
What happens if I transfer money to my credit card?
Many card companies limit you to paying no more than the full balance, but some do allow you to overpay. If this happens, you’ll wind up sending more money to the credit card company than you owe them. If you write the wrong amount on the check, the card company will get paid more than you owe them.