How can I utilize my credit card, say for cash transfer to bank?
Withdrawing Money form Credit card: better you avoid that ,credit card is a Purchase Power not so advisable for cash since the credit you utilize as purchases is absolutely Interest free for that billing cycle and theres no other instrument which is so humble to give you an Interest free loan for a short period . If you want to Transfer your Credit balance to your bank account (you need to check with your CC provider ,if its possible with the type of card you have, i dont think its possible in most of the CCs here in India) If not, the only way to do so is to withdraw cash from your credit card and deposit in your Bank account , which isnt a wise idea if you want to settle some loans by doing this , since cash withdrawal in Credit cards are not advisable which carries compound interest on it, the minute you withdraw the clock starts ticking (Interest), it runs form 2545% based on the card you have, and if you don't pay within the cycle regularly the interest keeps pilling up as they charge ;Interest for the Interest you have not paid , in many instances the Interest piles up more than the principle ,Thats how compounding works . USE THE COMPOUNDING PRINCIPLE TO MULTIPLY YOUR MONEY , AVOID FOR CREDITS OR LOANS My final conclusion & suggestion will be to use an instrument for which its intended and for the best value it delivers; that will be wiser. use Credit card for credit purchases ,use other Loan options (Personal loan , Mortgage loans , Loan against gold etc ) for your capital or immediate needs as these are designed for that specific purposes and hence carries lesser liabilities or Interest compared to a credit card.