Can You Transfer Money From a Credit Card?

Yes, you can transfer money from a credit card, but it is usually treated like a cash advance or cash-like transaction.

That means you will often pay a fee, and interest starts immediately (no grace period).

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Common Ways “Credit Card Transfers” Happen

Here are the most common situations people mean:

• Moving money to a bank account or paying a bill from your credit card
  Some banks count this as a cash advance.

• Balance transfers
  This moves debt from one card to another. Many issuers treat it like a cash advance and charge interest from day one.

• Cash-like transactions
  Things like wire transfers, money orders, and some gaming transactions are often treated like cash advances.

• Credit card cheques (convenience cheques)
  These can be used to pay bills or debts, and interest can start from the date you use them.

What It Usually Costs

If your “transfer” is treated like a cash advance or cash-like transaction, expect:

• A cash advance fee (could be a flat fee, a percentage, or both)

• No interest-free grace period (interest starts right away)

• Often a higher interest rate than regular purchases

A Safer Alternative If You Just Need to Move Money Around

If you are trying to avoid extra fees and interest, it is usually cheaper to use:

• Debit or Interac e-Transfer

• Payments directly from a chequing account