Tuesday, 4 May 2010

How to Turn Your Credit Card Into Cash!

How to Turn Your Credit Card Into Cash!

::Turn Your Credit Card Into Cash::

Before I start my short guide I would like to remind everyone that debt is slavery, it will cause you stress and all the misery that goes with stress. ...the following advice should only be used in emergency situations. All methods described are perfectly legal. You must pay back all money you borrow. Interest is more of a motherfucker than i can express in words. The best and only advice I would recommend is to never borrow a penny of anyone EVER. Save and spend. That being said, if you need some quick cash, read on:

Do you have a credit card sitting there with lots of credit on? Maybe you have 6 or 12 months interest free? As an alternative to small loans with increasingly comical APR rates how about getting a cash injection by sending yourself some funds? Here are my cash injection tips from experience.

Method 1. Simple Transfer.

Very few credit cards allow you to make a special transfer to your bank account for a %, I had one of these but they removed the facility just as i wanted to 'borrow' some cash. Normally you can just go to your online CC account or use telephone banking to do this.

Method 2. Double Cashpoint Withdrawal.

You can always take small amounts from a cashpoint normally £200/£300. If you need double that amount you can try going the cashpoint at 11:55pm and make the maximum withdrawal, wait for midnight to pass (give it 10/15 mins) then make another withdrawal - I have not tested this for some time. Used to be good for an easy £600 for me anyway.

Method 3. Money Transfer.

I have not tried this but a friend has. You can send under £600 to anyone in the UK and they can collect without ID. Up to £2000 requires 1 form of ID, Anything over requires 2 forms of ID. WU agents don't have to give you more than $900 cash, they can give you the rest as a cheque. If you need to extract more than £600 send the money to a friend or relative and get them to pick it up, don't forget to buy them a beer. Shop around though, i think Moneygram are less expensive.

Method 4. Paypal.

You will need to set yourself up with a merchant account (not hard) and a website to put the payment form on, make out like you offer a service (eg taxi driver). The CC must not be linked to your PP or it wont work. Its a long winded method and I hate PP because they are all to freeze happy these days. This works, i have done it.

Method 5. Foreign Currency Exchange.

This is my favourite method because its cheap and easy; buy whatever amount of cash you want from Travelex or anyone with a 'buy back' policy. Go to the airport and collect your dollars or euros. Go back a week later with your receipt and say your trip was cancelled, you will get all your money back in cash (they dont refund to cards - cool!). Buyback costs £4 and basically guarantees to buyback the currency at the same rate you paid for it, there is also a % CC charge.
1k will cost you just over £25.

Method 6. Refunds in cash on Credit Car purchase.

This is the most difficult method but can offer you a 100% return on your money. You go and buy an item that can be returned easily with a hard to diagnose fault, a laptop is a good example. You go and buy a gaming laptop from PC world, currys etc. Spend what ever you want to cash back, say £2000. Take it back a week later saying you are getting random BSOD's (blue screen of death - google it if you need to). Most places will insist on refunding you via your credit card, 'its company policy' they may say. Tell them you have closed the credit account and cash or bank transfer is the only method you will accept. Stand there and argue the toss, be difficult, get the manager out, print out the Sales of Goods Act and ask them to point out where it says the refund method must be the same as the payment method - it doesn't! There is no basis in law for them to refuse to give you cash. If they still illegally refuse take the managers name and write to the head office, include the store managers name, the conversation, date and time. cc your local store in on the letter. Title the letter 'letter before action' and threaten them with small claims court. Now you will get your money! Its a bit of work but when you add it all up a few hours of dicking about could save you £50+ in fees.

General Tips.

Credit card companies are very nervous these days for obvious reasons, expect to have your card blocked when you try this. The bank will call you to check the transaction is genuine. Or you can call ahead to tell them you will be making a large transaction. Its pretty unavoidable and quite normal, I think its a good thing that they do this.

Lots of different banks can be owned by one larger bank, don't use the same banks to get money using the same method or even different methods close together in time. They will think you have money problems and limit your accounts. Do some research to find out who owns who in the banking world.

Be sensible and none of this should damage your credit rating (or 'slave worthiness rating' as i like to call it).

Debt is slavery, don't do it if you don't have to.

How do I know this.

I am £40,000 in debt, sadly not from partying, living it up, holidays in the sun or over indulgence. I had a business that went tits up. Most of my creditors showed me no sympathy and allowed me no favours, this debt could have been avoided but they wanted to squeeze me... Whats makes me mad is the 100k+ i have paid in tax over the years that was simply handed over to these banks when they got too greedy and messed up - and we are all going to pay for that for generations. Anyway, I had to survive the only way I could so that is how I learned. I am facing Bankruptcy but I don't really care, i have no kids, no home, no possessions and now no job so I have nothing to lose any more. All I have is piles of letters from people who want to sue me. I am alive and i have my health and i try to be thankful for that. So i will say it a 3rd time: DONT GET IN EFFING DEBT IF YOU DONT HAVE TO!!!


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