Finance Hack – Cash Advance Balance Transfer

In the before times (before Covid-19), many balance transfer credit cards allowed people to deposit cash directly to their checking accounts. Most banks seem to have stopped that practice and now require sending payments to credit card balances only. Here’s a work-around.

This finance hack requires two things:

  1. A credit card connected to a checking account that enables cash advances.
  2. A second credit card at another financial institution with a zero-rate term balance transfer.

Transfer money from the cash advance card to your checking account. Then, pay off the cash advance card with your zero-percent interest transfer card.

You’ll pay a small fee to your checking account bank for the short-term cash advance loan, and whatever your credit card charges for the advance, but you can get cash in your checking account to use however you choose.