1. Describe the problem:
I found myself in a classic situation: I urgently needed a fairly large amount of cash. Naturally, the first thing that came to mind was to use a credit card with an existing limit. But the cash withdrawal fee is simply exorbitant, plus increased interest is charged on the loan itself. This makes the whole idea unprofitable and expensive.
I managed to "work around" part of the amount: I helped friends buy something online with my credit card, and they transferred the money to my debit card.
This is quite inconvenient and I don't want to bother anyone. And this solution only worked for part of the amount. The remaining $1850 is still sitting on the credit card, which also needs to be withdrawn. I'm sure I'm not the only one like this. There are p2p platforms for everything under the sun, so why isn't there a convenient, safe, and legal service yet for quickly cashing out money from a credit card at a reasonable fee?
I managed to "work around" part of the amount: I helped friends buy something online with my credit card, and they transferred the money to my debit card.
This is quite inconvenient and I don't want to bother anyone. And this solution only worked for part of the amount. The remaining $1850 is still sitting on the credit card, which also needs to be withdrawn. I'm sure I'm not the only one like this. There are p2p platforms for everything under the sun, so why isn't there a convenient, safe, and legal service yet for quickly cashing out money from a credit card at a reasonable fee?
2. How often does the problem occur?
I think once a year.
3. What attempts have you made to solve the problem?
Through friends, but it's inconvenient and inefficient.
4. How much are you willing to pay for the solution?
I don't know exactly, but if the fee is not exorbitant, I'm willing to pay it.