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Credit Card Applications » Questions » User Questions » Balance Transfers » I am looking for a credit card where I can take some cash out for 15 to 18 months. I believe ...

I am looking for a credit card where I can take some cash out for 15 to 18 months. I believe credit cards offering balance transfers are good options, but I’m not sure.  

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Leo Zhu

I’m not quite sure what you mean by “take some cash out” in the context of balance transfer credit cards – are you thinking of credit cards with a zero percent balance transfer offer, that send you a blank check you can make out to your other creditors or to yourself? Those offers used to be plentiful, but are hard to come by these days.

On the other hand, if you’re thinking about using a credit card to get a cash advance, this isn’t a good idea with any credit card. Cash advances are best saved for emergency use only, since they almost always have a very high APR – and no grace period before it begins to accrue (unlike purchases, which won’t accumulate interest unless they aren’t paid off after one billing cycle).

If you’re still interested in a balance transfer credit card, maybe to pay off a credit card balance that’s at a high interest rate and costing you money, then take a look at our balance transfer offers – some of which carry no interest for 18 months, like the Citi Diamond Preferred Card and the Discover More card – and can save hundreds of dollars in interest, depending on how much you  transfer and the current rate you pay. These cards are indeed good options for paying down debt – but not for getting cash out.

If you have any further questions or would like to clarify your situation further and get some more feedback, please don’t hesitate to contact us again.

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