How to Send Money Instantly with Credit Card

What comes to our mind when you hear the term credit card? Many people do not understand what a credit card is. They usually confuse it with a debit card. The two cards are different, although you can use them similarly. A credit card allows one to borrow finances from the issuer. In contrast, a debit card allows you to spend your checking account balance. We shall see how you can send money instantly with credit card.

Sending money from one place to another is vital. It allows you to move money to your loved ones, especially when working far away from home. A bank account is the most popular way to send money. However, it can take longer for the recipient to get the funds. There are also fees that you should pay in the transfer process.

Usually, you cannot send money directly with a credit as the card issuers do not allow you to do so. However, there are indirect methods you can use with credit cards to send money, and those are the ones we want to check. That way, you can find the card helpful in times of need. Money transfer not only happens in physical branches of financial companies but also online. Online money transfer has become the most preferred method since it allows you to send money anywhere.

How to use a credit card?

Before discussing how you can transfer money from a credit card to a debit card, bank account, or any other applicable medium, it is essential to know how to use the card. There are various ways to use your credit card, including the following.

send money instantly with credit card

i) Buy goods and services

One of the significant uses of a credit card is to buy goods and services. You can buy either online or at physical stores. Online places where you can buy goods and services with your card include Amazon, eBay, Walmart, and Best Buy. When buying online, you have to pay for the goods bought remotely.

You first add the goods you want to the cart and check out. You can then provide the card details, including the card number, expiry date, and the security code to pay. After that, the system will process your payment and deduct the correct amount from your card account to deposit in the merchant’s account. You will then get a notification on the registered mobile number about the transaction.

On the other hand, when buying at a physical store, you should carry your card to pay at the register. After the attendants scan the items bought for price capturing and totaling, you then swipe the card over the card reader or tap to pay for the contactless cards. It all depends on the card reader. The system will deduct the necessary amount and deposit it in the merchant’s account.

ii) Withdraw money

Even though withdrawing money with a credit card is not one of the significant uses of a credit card, it is still essential. Sometimes you may need cash, and the only source of money is your credit card. In such a case, you can carry your card plus your identification document, then head straight to the counter to request a withdrawal.

Once the teller confirms that the card belongs to you, they can assist you in withdrawing the amount you want. If you want to send money from a credit card to a bank account instantly, you can use the over-the-counter withdrawal method to get the funds you need. However, that is an example of a cash advance, and fees will accompany the transaction.

You can also withdraw finances from your card account at an ATM. Remember that the card usually has a PIN like the other payment cards, and you only need to insert the card into the ATM point, and you are good to go. Once the machine detects the card, you enter your PIN to continue. You can then withdraw the amount you want and get your card. Still, the withdrawal attracts cash advance fees from the card issuer.

iii) Build credit scores

Credit scores are numerical expressions that show a person’s ability to repay a loan. They usually range from 300 to 850, whereby 300 is the poorest scoring and 850 is the best. You can build credit by using your card correctly. That includes paying your debt on time and correctly, utilizing 30% of your credit card limit, and keeping the card active.

Every credit card can build scores. That means both secured and unsecured credit cards can build scores. That is because the card issuers report to the credit bureaus. Therefore, you can qualify for better cards and lines of credit with time. When building credit scores from scratch, you can use an unsecured credit card. That is because the unsecured only requires a security deposit to get it.

vi) Pay bills

There is no way to avoid electricity, water, and internet bills, especially if you live in urban centers. A credit card becomes handy when it comes to bill payments. You only need the card to get the service provider’s details and make your details. By the way, you can make payments for a credit debt using your credit card. And by the way, you can transfer money to someone else’s credit card to pay their bills if they provide you with the card’s bill payment details.

How to send money instantly with credit card?

I promised to show you how you can send money instantly using a credit card, and here we are. There are various ways you can send money with a credit card. They include the following.

1) Send money with PayPal

PayPal allows you to send money instantly to others online. You can use a credit card to fund your transfer. That way, you can make your transfers instantly. You can add your credit card to PayPal in the following manner.

  • Log in to your PayPal account
  • Tap Wallet.
  • Hit on + across from Banks and cards.
  • Select Debit and credit cards.
  • Link your card manually by providing the card details.

After successfully adding the card to your account, you can send money. PayPal will get the needed balance from the card account to send the funds to the target recipient. You can use the following steps to send money through PayPal.

  • Log in to your PayPal account.
  • Tap on Send & Request.
  • Select from the three options.
  • Enter the mobile number or email of the recipient.
  • Enter the amount to send.
  • Click Continue.
  • Review the details and confirm
  • Click Send Money Now.

2) Send money with Venmo

Venmo allows you to add a credit card to your account to fund your transactions, whereby you need to add the card details to your card and get started. Venmo allows you to transfer money instantly. If using your card to fund your transfers, Venmo will get the necessary balance from your card to proceed with the transaction.

You can send money on Venmo in the following manner. 

  • Open the Venmo app to login.
  • Tap on the payment icon at the top of your screen.
  • Select your recipient from your Venmo contacts list. You can also add a recipient to the list using their phone number, email, or username.
  • Enter the amount to send.
  • Add a note
  • Check to confirm the details.
  • Tap the ‘Pay’ button.
  • Confirm your payment details.

You can also use Venmo with your bank account to send funds. We understand that bank a allows you to send money with routing and account numbers to other banks. You can use Venmo as a medium to move money from your bank to another bank and shorten the time used in the transfer.

3) Use your card on Apple Pay

Another platform that allows one to send money instantly is Apple Pay. It is a product from Apple and allows you to use a credit card balance to send money. You should add the card details to the platform, then navigate to the send money section.

Other platforms that you can instantly send money with your credit card include Cash App, Facebook Pay, and Payoneer.

Can you transfer money from one credit card to another?

A credit card cannot receive money directly as deposits. However, you can transfer the balance from one credit card to another when doing a balance transfer. You must first apply for the balance transfer credit card, then proceed with the transfer. The balance transfer credit card issuer then repays your debt in the current card issuer and transfers it to the new card.

You will have transferred money from the old card to the new card. You can then repay the debt on the new card at low or no interest rates.

Bottom line

Credit cards allow you to borrow finances from your card issuer. The cards differ from debit cards in that you can use them to borrow money from your issuer, while debit cards allow you to   

Access your checking account balance. You can use a credit card to buy goods and services, withdraw money at an ATM, and make bill payments. Credit cards also work with mobile money wallets to send money.