How To Turn Credit Into Cash

In this video I will go over CREATIVE ways to turn credit into cash. WATCH UNTIL THE END Follow me on Instagram:Timothywilliamsjr0

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Credit is king in today's market, but cash is still needed in a lot of situations. Odell Beckham Jr took his LA Rams contract worth $750,000 in "Bitcoin" instead of cash netting him only $35,000 after tax. OBJ has a net worth of $40 million, he will more then likely ride the Bitcoin wave until it reaches over $100K.

A lot of athletes, and performers are now taking payments in Cryptocurrency, instead of transitioning the thought of collecting cash. The stock market is up and down and if you're looking to invest in other business ventures it's sometimes best to take cash. I wouldn't reccommend taking a dive into the metaverse unless you have the reserves to do so.

Cash Advance- A cash advance is one of the oldest ways to turn credit into cash, but I wouldn't recommend this as the first option because of the high fees associated with it. You're looking to pay a typical fee of 5%. You can get a cash advance through the ATM, in person using your credit card, or even a convenience check from your credit card issuer.

Gift Cards- Buying gift cards from Walmart, to then purchase a money order is another GREAT way to turn credit into cash. You're not likely to pay such high fees associated with this method. If you have 2-5 days to wait for the money to get deposited this is a great option for you.

Balance Transfer- Another creative way to turn credit into cash is "Balance Transfer" you can leverage your 0% balance transfer card to transfer a balance to another low balance credit card to use for bill payments, or to get a "overpayment" check to use as cash.

Friendly Purchase- If you have a friend or family member looking to make a big cash purchase you can take the cash from them & use your credit card to make the payment. You will then turn that purchase from credit to cash, you have 30 days to pay it back, but make sure it's worth it & you're using that money to make you even more money.

Rewards- Credit Cards Rewards are one of my favorite ways to turn credit into cash, I no longer use my debit card, I only make purchases with my credit card because of the perks of having credit cards reward points. You can deposit the rewards as cash into your bank account, or use the rewards towards your credit card.

Resell Value- Buying something with a resell value such as PS5, Supreme, Jordans, or Yeezy's is another great way because you're getting rewards back for your purchase, as well getting profit after reselling the product you purchase.

Discover Credit Card- Having a Discover credit card and using "Cash Over" is by far one of my favorite ways of turning credit into cash. They allow you to pull out $120 per day, which is great when you need cash in certain situations. AND you're getting credit cards reward points for pulling your cash out, because it shows up as a normal purchase.

Turning Credit into cash is used for a business, real estate deal, or an emergency so make sure you're using it wisely.

I advise you check out @RichardFain he has a great video on purchasing Rolex's with your credit card, reselling them for profit, then paying off your credit card and investing in other income producing assets.

Investing in the stock market is very risky, so be sure to invest wisely.

Thank you for the support, let's get to 100K(:

[quionacashaw]

This information is so helpful! Thank u!

[pk_A-City]

You be dropping gems!!!! Appreciate all your context man for real.

[djbryant]

Or should I have type get a gift with a preset limit and not one that you determine the limit. I'm new to it all so pardon my ignorance.

[marviz]

I do doordash and use my small credit card for gas and parts for my car. And pay half of the credit card every week..

[djbryant]

I am new to this so please clarify for me. it will not be considered a cash advance if you purchase a gift card, and not a prepaid gift card ? Not doubting you at all just want to be sure I catch that jewel you dropped