How to Get Cash From Amazon Credit Card
Amazon, the world’s largest online marketplace, offers a wide range of services and products to its customers. One of the most popular offerings from Amazon is its co-branded credit card, which comes with a host of benefits and rewards. While the Amazon credit card is primarily used for making purchases on the platform, it is also possible to get cash from your Amazon credit card. In this article, we will explore the various ways you can do this and answer some frequently asked questions about cashing out your Amazon credit card.
Methods to Get Cash from Amazon Credit Card
1. Cash Advance: One way to get cash from your Amazon credit card is by using the cash advance feature. However, it is important to note that this option should be used with caution as cash advances typically come with high fees and interest rates. To get a cash advance, you can visit an ATM that accepts your Amazon credit card and withdraw cash. Keep in mind that there may be withdrawal limits and additional charges associated with cash advances.
2. Balance Transfer: Another method to get cash from your Amazon credit card is by using a balance transfer. With this option, you can transfer your credit card balance to a bank account or another credit card that allows balance transfers. However, note that there might be fees and interest charges associated with balance transfers, so it is essential to carefully read the terms and conditions before proceeding.
3. Gift Cards: Amazon offers a wide selection of gift cards for various retailers and services. If you are looking to get cash from your Amazon credit card, you can consider purchasing a gift card with your credit card and then selling it to someone else for cash. While this might not give you the full value of the gift card, it can still be a viable option to convert your Amazon credit into cash.
4. Rewards Redemption: Depending on the type of Amazon credit card you have, you may be able to redeem your rewards for cash. Some Amazon credit cards offer cash-back rewards that can be credited to your account or redeemed as a statement credit. This allows you to offset your outstanding balance and effectively convert your rewards into cash.
FAQs about Getting Cash from Amazon Credit Card
Q: Are there any fees associated with cash advances?
A: Yes, cash advances typically come with fees, which are usually a percentage of the amount withdrawn. Additionally, interest rates for cash advances are generally higher than those for regular purchases.
Q: Can I get cash from my Amazon credit card at any ATM?
A: You can get cash from your Amazon credit card at ATMs that accept your credit card. However, keep in mind that there may be withdrawal limits and additional charges associated with cash advances.
Q: Can I use my Amazon credit card to withdraw cash internationally?
A: Yes, you can use your Amazon credit card to withdraw cash internationally, but it is advisable to check with your credit card provider regarding any foreign transaction fees or additional charges.
Q: How long does it take to receive the cash from a balance transfer?
A: The time taken to receive the cash from a balance transfer depends on the policies of the bank or credit card company receiving the transfer. It is recommended to check with them for an estimate.
Q: Can I sell my Amazon credit card rewards to someone else?
A: No, you cannot directly sell your Amazon credit card rewards to someone else. However, you can redeem your rewards for cash or statement credit, which effectively allows you to convert them into cash.
In conclusion, while the primary purpose of an Amazon credit card is to facilitate purchases on the platform, there are ways to get cash from your Amazon credit card. However, it is important to consider the fees, interest rates, and any associated charges before opting for these methods. Always read the terms and conditions carefully and consult with your credit card provider for specific details regarding cash advances, balance transfers, and rewards redemption.