Cash withdrawal without interest
Some banks offer credit cards that allow you to withdraw cash without interest if certain conditions are met. The following conditions appear most often:
- Grace period. Most banks offer a grace period during which no interest is charged. It can be from 30 to 60 days.
- Cash withdrawal limits. Banks set limits on the amount that can be withdrawn without interest.
The grace period allows you to use the loan funds without accruing interest, provided that the debt is repaid in full before the end of this period.
Let’s get into the details: questions and answers
Credit interest-free cash withdrawal cards can be useful in different situations:
- Immediate expenses. For unexpected expenses, such as medical services or car repairs, a credit card can help you get cash quickly.
- Travels. When traveling, a credit card with the possibility of interest-free cash withdrawal can be indispensable, since it is not always possible to provide for expenses in an unfamiliar situation.
- Major purchases. Sometimes it’s better to withdraw cash and pay with it than to use the card directly, especially if it helps you avoid extra fees.