5 Very Cheap Ways To Borrow Money (Using A Credit Card)

If you need to borrow money, these credit card tricks could save you a lot of money.

Traditional loans can be very expensive, especially for lower amounts.

And normal borrowing on a credit card is even more expensive and you should avoid doing it.

But there are 5 credit card tricks you can use to borrow on a credit card without paying anything or paying a very cheap rate.

I'll go through these 5 ways to borrow money on a credit card and explain how they work.

Remember that with all of these, you have to be very disciplined to pay back the amount borrowed within the 0% period.

Unlike a loan, there is no fixed repayment structure on a credit card and if you don't repay in time, you will have to pay very expensive interest rates and can get into a perpetual debt cycle.

Please make sure that you don't use these strategies to borrow money that you don't need to borrow or get into financial difficulty.

But if you do need to borrow and want to save on the cost of borrowing, these credit card borrowing tricks can be pretty useful.

💵 GREAT INVESTING APPS I USE
CHAPTERS
Introduction - 00:00
1. Balance Transfer Switch - 01:03
2. 0% Purchase - 03:55
3. Purchase Switch - 05:21
4. The 1 Month Credit Card Gap - 06:55
5. Money Transfer - 09:23

DISCLAIMER: Some of these links may be affiliate links. If you purchase a product or service using one of these links, I will receive a small commission from the seller. There will be no additional charge for you.

DISCLAIMER: I am not a financial advisor and this is not a financial advice channel. All information is provided strictly for educational purposes. It does not take into account anybody's specific circumstances or situation. If you are making investment or other financial management decisions and require advice, please consult a suitably qualified licensed professional.

[Andromedaxterr]

Hey Sasha, I prefer credit card and saving money topics instead of stocks and shares )))

[shokid]

Hey Sasha, would you be able to make a video on cards that allow(use of points) free airplane use and access to lounges?

[nathanmunns]

I have a question. I applied for a credit card but now I’m seeing stuff that says not spending that much on it is acc worse. I wouldn’t be spending loads on it at all. Like there would be some months I probably wouldn’t spend at all. Would this negatively effect my credit score

[geolykos]

I want a combination of cards/loans AND shares so we can borrow with 0 interest and buy shares ;)

[cryptoearningweapon]

Hi Sasha great video. I can’t remember where you gave a tip about getting 2 credit cards at one go. One through maybe Experian and the other direct from a credit card provider? Could you clarify this. Thanks a lot

[Archived-Moments]

Hey Sasha Great video! Question on Money transfer. I was reading the T's & C's of a Virgin Money 0% p.a 12 month balance / money transfer. Excluding the 4% fee. Does the monthly rate / simple rate / effective rate apply within this 12 month period?

[alexandrdermenji]

Sasha, if I withdraw money from credit card with revolut Is it mean that I take cash and will pay fee? Or it’s safe to do ?

[sugun]

Hey Sasha, I have been a victim of identity theft. Someone took a card in my name and used up about £8000 this year. That brought my experian score from 986 to 530 within few months. Could you please make a video on how to avoid this and also the process and speed at which banks investigate identity theft.

[calvinprovido]

Using the money transfer method. Once the first 16 months or no interest is over and you decide to balance transfer. Would you close the account (money transfer) card or keep it open. Keeping it open would be useless since you don’t get the benefit of 0% interest anymore and the high APR.

[imranquinn]

The CC I’ve seen with a 0% purchase rate always include some sort of clause which states a balance transfer has to be made in a set amount of time before receiving this promotion offer? And ideas why

[benvairy]

Hi could you do a video on premium bonds thanks

[ryansomerville]

Hi Sasha I have been stoozing very heavily and I am always trying to take out as many 0% cards as possible and invest all the funds into indexes.
I have recently paid off a card as the offer was expiring, this has left me with 57% credit utilization which is still fairly high.
I am trying to improve my choice of new cards, would you close the card and reduce the risk for a credit lender or would you keep the card open so my credit utilization is lower.
(purchase cards work better for me as I am able to ''withdraw'' the funds fee free and I dont have any 0% fee balance transfer offers available)
thanks

[stupossibleify]

I guess it's a balance of money saved interest payment vs hit on credit score whether it's the opening of new credit accounts, likelihood of being above 30% utilisation and *arghh*... money transfer red flag!

[jahid]

Hi could you please do a video on Fineco Bank trading platform? Thank you

[paulf]

Interesting, is it possible to borrow and use your ISA as a collateral in the UK. Quick google do not return anything.

[globalwanderer]

Hi Sasha. Here is a way to get a cheap money transfer: I have one card that does balance and money transfers, but only at their standard rate which is 19.29% APR. My second card does 18-month balance transfers at 0% APR with a 2.4% fee up front, but no money transfers. So I can 1) use the first card to transfer money to my bank and 2) immediately pay off the first card with a balance transfer from the second card at 0% APR. Of course, I will pay a few days interest on the money transfer from the first card as there is no interest-free period. However, this won't be much. What do you think?

[jemelchellal]

How high is the typical limit on a purchase card?