The purpose of a balance transfer is to transfer your balance from a credit card with a high APR to a credit card with a lower APR. There are a lot of credit cards that have 0% APR balance transfer offers for as many as 20 months. For savvy consumers, taking advantage of these offers may be a great way to borrow money, all interest-free. (for a wedding, house, car, etc.) Here in this post, I will teach you a few strategies of how you can possibly get cash from a 0% APR balance transfer.

Balance Transfer Checks

Chase, Barclay, Citi, and other banks very often send balance transfer checks to their cardholders. These checks can be written out to your name and deposited into your bank account. If you have these checks then that would be the easiest and straightest way on how to turn a balance transfer into cash. Citi bank usually offers balance transfer checks even for new cardmembers as well.

If you have two or more checks from one issuer, then you can maximize them by writing out the first check for the full allowable amount. Then once the check clears, you can balance transfer that balance to a credit card that allows balance transfers only. This will bring the first credit card back to a zero balance. Then write out the second check for the full allowable amount and repeat for as many checks as you have.

If you don’t have checks, you can sometimes call the bank and request them. Sometimes, the bank may even offer to make an ACH deposit straight into your bank account.

Overpay and Refund

This strategy is to overpay a credit card balance and later request a refund. For example, if you have a $100 balance on credit card # 1, then go ahead and ask credit card #2 (the credit card that has the 0% APR balance transfer offer) to go ahead and balance transfer $10,000 dollars from credit card #1 (which really only has a $100 balance). Credit card #1 will receive a payment from credit card #2 for $10,000 leaving you with an extra credit of $9,900. Then you can call credit card #1 and request them to refund you the $9,900 since you “by mistake” added zeros when you made the payment (balance transfer). Credit card #1 will then offer you a check refund for the amount of $9,900.

In the last few years, this has become very tough as banks started either to refuse these types of payments or may close your account after you request a refund (usually only if this happens multiple times). In order for you to up your chances of being successful, I recommend you to choose for credit card #1:

  1. A bank that you don’t care so much if they would close you down.
  2. Make sure to have a small balance on the credit card, as that will help for the bank not to decline the balance transfer payment.

Swipe and Save

I recently assisted a store owner who was looking to expand his store. He, therefore, wanted to borrow $60,000 cash from 0% APR balance transfers. The company swiped about $40,000 a month on credit cards and paid it up when it was due. What I advised him was that instead of paying his balance with cash, he should rather pay the balance with a 0% APR balance transfer and save the cash to use for his planned store expansion.

Manufacture Spend

Manufacture spend is a way to spend money on credit cards and get most of the money back. Tricks include; buying gift cards with credit cards and later cashing out the gift cards, funding Paypal accounts with credit cards, etc. In the last year or two, these tricks are becoming harder and harder to do. Nick from the Frequent Miler has a great page on which tricks still work in 2018. You can check out the page here.


If you ever are in need of a personal loan and get rate quotes of 10% Apr or more, remember this post. Yes, you can take out cash from credit cards with 0% Apr for up to 20 months. In my opinion, it’s a no brainer for anyone who has great credit, to take any other personal loan rather than cash out a  0% APR balance transfer credit card.

If you have any questions or comment on anything written in this post, feel free to leave a comment below. (Readers, let’s keep the comment section lively!)

You may also want to read:

5 Best Balance Transfer 0% APR Credit Cards

Everything You Need to Know Before Making a Balance Transfer