Cash Withdrawal as a way to achieve Few Waiver milestone

[bhavyakjain]

Hi

I was considering of a way to achieve credit card spend limit / fee waiver milestone.
Can I withdraw cash using credit card and then repay the amount immediately (or within 1-2 days)? I understand that for cash withdrawal, interest calculation starts immediately, so I want to repay it immediately.

1. Is it legal ?
2. Can this work for fee waiver, etc milestones?
3. Can someone share their experience, if they have successfully used this trick?
4. What are the downsides to this ? Any impact on CIBIL, ITD, etc
5. Any other trick to achieve spend milestones?

Thanks

 

[Deleted member 11974]

cash withdrawal isnt considered for fee waiver milestone

 

[ChurningNoob]

Welcome to the world of credit cards buddy!

 

[raghumahajan]

Hi

I was considering of a way to achieve credit card spend limit / fee waiver milestone.
Can I withdraw cash using credit card and then repay the amount immediately (or within 1-2 days)? I understand that for cash withdrawal, interest calculation starts immediately, so I want to repay it immediately.

1. Is it legal ?
2. Can this work for fee waiver, etc milestones?
3. Can someone share their experience, if they have successfully used this trick?
4. What are the downsides to this ? Any impact on CIBIL, ITD, etc
5. Any other trick to achieve spend milestones?

Thanks

don't do this.

 

[InfamousInfamous is verified member.]

Hi

I was considering of a way to achieve credit card spend limit / fee waiver milestone.
Can I withdraw cash using credit card and then repay the amount immediately (or within 1-2 days)? I understand that for cash withdrawal, interest calculation starts immediately, so I want to repay it immediately.

1. Is it legal ?
2. Can this work for fee waiver, etc milestones?
3. Can someone share their experience, if they have successfully used this trick?
4. What are the downsides to this ? Any impact on CIBIL, ITD, etc
5. Any other trick to achieve spend milestones?

Thanks

Not sure this is a good idea, bank might recognize your pattern and deny you any upgrades.

 

[Zacobite]

Hi

I was considering of a way to achieve credit card spend limit / fee waiver milestone.
Can I withdraw cash using credit card and then repay the amount immediately (or within 1-2 days)? I understand that for cash withdrawal, interest calculation starts immediately, so I want to repay it immediately.

1. Is it legal ?
2. Can this work for fee waiver, etc milestones?
3. Can someone share their experience, if they have successfully used this trick?
4. What are the downsides to this ? Any impact on CIBIL, ITD, etc
5. Any other trick to achieve spend milestones?

Thanks

cash is not counted for milestones