💫 Summary
In this video, Terry discusses five legitimate ways to liquidate your credit cards and turn your credit into cash. She emphasizes the importance of using credit for income-producing purposes and urges viewers to invest in things they know about. Terry also highlights methods like credit card loans, using ATMs, and balance transfers as legitimate ways to access cash from your credit cards.
✨ Highlights📊 Transcript
This section discusses legitimate ways to liquidate credit cards and turn credit into cash.
The speaker emphasizes that they will only provide legitimate methods.
They have over 20 years of experience and are certified in credit scores.
They will explain the meaning of turning credit into cash, pros and cons, and how to use it for income-producing purposes.
Liquidating credit cards can be a profitable strategy if the money is invested in income-producing ventures and only in areas one is knowledgeable about.
Use credit card liquidation for emergencies or situations out of your control.
Invest the money from credit card liquidation into something that will generate income and profit.
Consider liquidating business credit cards instead of personal ones as they often have higher limits and may offer benefits like zero percent APR and rewards points.
Business credit cards do not affect your personal credit score.
There are five legitimate ways to liquidate your credit cards and turn credit into cash.
One way is through a home equity line of credit, where you can borrow money based on the equity in your home.
Another way is through credit card loans, which can be obtained from certain banks like City and Chase.
It is important to note that fees may apply when using credit cards for cash withdrawals.
There are two ways to liquidate credit cards: through credit card loans and using the ATM or tellers.
Check if your credit card offers credit card loans and find out the fees and borrowing limits.
Set up a PIN for your credit card and use it at the ATM to withdraw cash, considering the fees and the amount needed.
You can use PayPal or other payment platforms to send money to yourself using a credit card and deposit it into your personal or business account.
PayPal allows you to link multiple payment sources, including personal and business accounts.
You can switch the payment source to be your business credit card and send money to yourself.
You can write checks from your credit card company to yourself and deposit them into your bank account.
00:00good morning winners welcome welcome to
00:02terry's tips listen do you need some
00:07yes y'all today we're gonna talk about
00:08how to turn your credit into cash okay
00:10five ways to liquidate your credit cards
00:13and let me just say this because i only
00:15know how to be real especially you guys
00:16that really follow me and know me okay
00:18there's a lot of very shady videos out
00:22there that have you guys doing a crazy
00:24things to liquidate your credit card
00:26some of them are borderline fraud we
00:29don't do that over here okay so whether
00:31you like it or you don't i'm going to
00:33give you five legitimate ways to
00:35liquidate your credit cards guys i used
00:37to work for trainings union i have over
00:3920 years of experience i'm board
00:41certified and credit score certified so
00:43i help you guys because exercise your
00:45rights kind of leverage your credit the
00:47right way so you can have actual real
00:49results okay so in this video i'm going
00:52to explain you know what does it mean to
00:54turn credit into cash i'm gonna talk
00:56about some of the pros and some of the
00:57cons some of the shady ways some of the
01:00not shady ways i'm even going to outline
01:02for you guys what you should be using
01:04this for right so if you're actually
01:06going to liquidate your credit cards
01:07you're using it for something it's going
01:08to be income producing have a return so
01:11it was actually a smart move
01:13got it y'all and if you are new welcome
01:16guys my name is terry i would love for
01:18you to subscribe like share comment
01:19because i'm working through my comments
01:21i read all of my comments and guys i
01:23even get ideas from videos from your
01:25feedback and your questions so comment
01:27like subscribe share okay and guys i
01:30will do my nugget at the end i post
01:32brand new videos every tuesday and
01:34thursday morning because i'm welcoming
01:36my new subscribers okay guys so first
01:39you know turning credit into cash okay
01:41usually when you hear that term it's
01:42talking about taking money off of your
01:45credit cards and kind of turning it into
01:47cash there's a lot of different ways to
01:48do it some shady not so some not shady
01:51okay but guys one thing i want you to
01:52kind of learn about right here right
01:54here okay is that if you're going to
01:56take money off of a credit card and
01:59liquidate it guys have a good use for if
02:02you're just taking money off of a credit
02:03card and you're paying off debt that's
02:06not a super smart move you didn't do
02:07anything to kind of move the debt around
02:09you still have to pay it back so what i
02:11want to kind of get into your spirit
02:13like immediately is to invest right i
02:16don't care what you invest in guys this
02:17is the nugget invest in what you know
02:20about you're taking you know five
02:22thousand dollars off of a credit card
02:23maybe you're investing in getting a car
02:25maybe you're investing in real estate
02:26maybe you're investing in stocks or
02:28bonds you know maybe you're being an
02:30angel investor where somebody needs you
02:33know five thousand dollars for their
02:34project and you give them five thousand
02:36dollars because you liquidate your
02:37credit card but then the deal is that
02:39they have to give you back eight
02:40thousand dollars in like three months
02:42when the deal is done right you flipped
02:44your actual money guys i even know
02:46people that liquidate their credit cards
02:47and they use it to flip like watches
02:50jewelry purses make dinners guys maybe
02:53it costs you know five dollars to make a
02:56dinner but you sell them at 20
02:58and you do it every weekend you know for
03:00a month and you sell between 100 and 200
03:03dinners guys this is where you took
03:04money off of your credit card and you
03:06liquidated it but then you flipped that
03:07money you made a return you're able to
03:09pay that money back and actually have a
03:12surplus then you can do it over and over
03:14and over again so guys unless it's like
03:16a dire emergency you just need you must
03:18use your credit card like liquidation
03:20for like something that is an emergency
03:22out of your control maybe a death maybe
03:24you know a health thing then fine but
03:27what you are leveraging what i want you
03:30to understand taking money off of a
03:32credit card put it into something that
03:34would be income producing have a result
03:36have a return something that's going to
03:38give you a profit gotta got it good and
03:41only invest in things you know about
03:43okay so stop saying you'll be a real
03:45estate investor you don't know nothing
03:46about it and then you look at your
03:48credit cards and you lose all your money
03:49in real estate that wasn't actually
03:50smart okay got it got it good the next
03:53thing guys you can liquidate credit
03:54cards for personal credit cards and or
03:56for business credit cards hear me right
03:58now okay a lot of times it's better if
04:01you liquidate business credit cards for
04:03a couple of reasons number one is
04:05because they understand the usage is a
04:07little bit different so a lot of times a
04:08little bit easier to um liquidate
04:10business credit cards another reason
04:12guys is because business credit cards
04:13have higher limits right so liquidating
04:16a 20 000 credit card is a lot different
04:18than liquidating a 1500 personal credit
04:20card right another thing guys if you can
04:22look with a business credit cards that
04:23should be your first choice is because a
04:25lot of them have zero percent apr for
04:28like six to 18 months so depending on
04:30how you transfer i'm how you liquidate
04:32the card and the terms you may be able
04:34to save yourself some money by doing it
04:36with the business credit card and then
04:38guys like the next thing there's also
04:40like a lot of rewards points right and
04:41also the business credit cards are not
04:43on your personal true
04:45business credit cards are not on your
04:47personal credit reports so when you're
04:49liquidating them and you're kind of
04:50making that balance go up it's not
04:52making your credit score go lower
04:54because of utilization remember that if
04:56you have personal credit cards and you
04:59liquidate them those balances are going
05:01to be reflected on your credit cards
05:02right because you did take that money
05:04and it can make your credit score drop
05:06because your utilization increased as
05:08opposed to doing it with business credit
05:10cards if you have them guys then you use
05:13them you liquidate them but this is on
05:15your business credit reports your
05:17personal scores do not suffer at all
05:21that was a nugget guys okay another
05:24nugget right here too is that guys you
05:25know you can actually use a home equity
05:27line of credit as a form of liquidating
05:30credit card well turning credit into
05:31cash right so think about it you have a
05:34property even your personal property
05:36guys and it has equity let's say you
05:39have a hundred thousand dollars left on
05:40the mortgage the house is worth two
05:43hundred thousand dollars that means you
05:45have a hundred thousand dollars in
05:47equity in your property okay now this is
05:50where no bank is going to allow you to
05:52take out 100
05:54of the equity but a lot of banks let you
05:56take out 70
05:58to 80 percent guys it's a form of
06:00turning credit into cash because you use
06:02the mortgage which is credit to purchase
06:04the property but because you made a good
06:06buy maybe you did improvements maybe the
06:08area went up now you have equity that
06:10you can leverage to what did i say to
06:13invest so because you have a hundred
06:15thousand dollars worth of equity you may
06:16be able to take out thirty thousand
06:18fifty thousand seventy thousand dollars
06:20through a home equity line of credit
06:22guys that's a form of liquidating
06:23because that money is just available to
06:25you almost like a line of credit you can
06:27use it for anything for real estate for
06:29down payment for construction to hire
06:31employees for marketing for whatever it
06:34is so that is a form of turning credit
06:36into cash is a home equity line okay
06:39guys so let's jump right into some of
06:40the ways right five legitimate ways so
06:43number one guys is a credit card loan so
06:46i'll write that down i'm not sure that
06:47you a lot of you guys understand this
06:48too it is a thousand percent going to
06:51depend on the type of credit card that
06:53you have all of these methods guys all
06:56of them work better if you have good
06:58credit and you have credit cards that
07:00have high limits obviously right but you
07:02don't know where you're fitting i'm just
07:03gonna be honest with you right so a
07:05credit card loan and guys city and chase
07:07okay write that down city and chase are
07:09actually known for having like loans
07:11like this and what that means is that
07:13they will give you a loan kind of that
07:15you can have borrow against on your
07:17credit limit so if you have like a ten
07:18thousand dollar you know chase card or a
07:20city card then you can essentially get a
07:22loan from that from that actual credit
07:24card that's a form of liquidating your
07:25credit cards um and getting the cash now
07:28disclaimer let me kind of address fees
07:30right here because people always come
07:32into comments well there's fees there's
07:33fees there's fees yes these are banks
07:36there are fees credit cards are meant
07:38for purchases not necessarily just to
07:39give you cash right that's why credit
07:41cards are different than lines of credit
07:43credit cards are meant for purchases
07:46lines of credit and even loans go right
07:48into your account you can use them
07:50however so what you're doing is you're
07:52kind of manipulating kind of changing
07:54the type of credit that they gave to you
07:56and kind of altering it and using it for
07:57a different use so yes guys whether you
08:00use it at an atm sometimes if you do
08:02balance transfers if you do on credit
08:04card loans there's always going to be
08:06fees this is why i say to you guys know
08:09the multiple methods look at the pros
08:11and cons look at the fees and choose
08:13what's best for you if through your
08:15credit card company a credit card loan
08:18is like five percent and a cash advance
08:20is three percent then guys be smart
08:23about doing a little bit of legwork and
08:25research and then doing the one that's
08:27best for you but yes they all have fees
08:29just because it has fees doesn't mean
08:32it's horrible guys i want you to i need
08:34you to kind of follow me right here our
08:36hard money lenders have fees for real
08:38estate our business credit lenders have
08:40fees there is a cost to doing business
08:43so if they're going to give you 50 let's
08:44say you have a high high high limit
08:45credit card and it's 50 000 and they're
08:48gonna allow you to take out forty
08:49thousand dollars in like you know a
08:51credit card loan or cash advance or
08:52whatever and the fees are five thousand
08:55dollars a consumer will look at that and
08:57be like why do i have to pay five
08:59thousand dollars that's a lot of money
09:00but an investor someone looking to
09:03leverage someone looking to be strategic
09:05someone who has a plan to double that
09:06money it's gonna say i yielded forty
09:08thousand dollars and they're about to
09:10flip that money and keep it going left
09:12their way all the way to the bank so
09:13guys look at the fees but look at what
09:15you're yielding if it costs you two
09:17hundred dollars to get five thousand
09:19dollars and you can do something that's
09:21gonna be income producing go for it this
09:24is business all right back to our
09:25release schedule program so credit card
09:28loans not all credit cards have them
09:30guys so if you have credit cards pick up
09:32the phone look at the terms look at the
09:34website log in and see if they have
09:36credit card loans and if they do have
09:38the credit card loans find out how much
09:40what are the fees and how much you can
09:42actually borrow and then go ahead and
09:43get it done but that's a legitimate way
09:45to actually liquidate your credit cards
09:46okay the next one guys is like using the
09:48atm or going to like the tellers right
09:50so if you have a credit card set up your
09:53pin guys this is a nugget right and i
09:55honestly say just in case of emergencies
09:57always set up your pins right and if you
09:59have a credit card you have a pin you
10:01can go right to the atm put your credit
10:03card in there just like you would do
10:04your debit card put in your pin and take
10:07out an amount now a couple of things to
10:09note when you use your credit card at
10:11the atm there are things just like i
10:14said just make sure it makes sense for
10:16you right if it costs fifty dollars in
10:18fees and you're only taking out a
10:18hundred dollars that doesn't make sense
10:21right but if you can get five hundred
10:22dollars off of your credit card through
10:23atm it's gonna cost you thirty dollars
10:25stop crying by the thirty dollars and
10:27pay it because you needed the money got
10:29it got it good guys i'm tired of people
10:30that come with there's fees yes those
10:32fees is business all right so going to
10:33an atm you can actually do it now a lot
10:36of these banks a lot of these credit
10:37cards will only let you take out a
10:39certain amount so it could be 400 it
10:41could be 500 could be a thousand so
10:43understand how much you can take out and
10:46how often so a lot of times it may be
10:48five hundred dollars but they're not
10:49gonna let you take out five hundred
10:50dollars three times in one day but you
10:52might be able to take out five hundred
10:53dollars monday 500 tuesday 500 no
10:55wednesday right so understand another
10:58nugget right here guys is let's say you
11:00have a credit card that has like you
11:01know five thousand dollar limit and you
11:03can only max out like you know two
11:05hundred dollars guys a lot of times you
11:07can call them and say hey can you raise
11:09my cash advance amount can you raise my
11:11atm amount like they will actually do
11:13that so say it's normally 200 and you've
11:15never even addressed it you can say hey
11:17i'm a business owner i have multiple
11:19needs i always pay my card on time you
11:21know can you raise my daily limit to a
11:23thousand dollars the very worst thing
11:25they can say to you guys is no so i want
11:27you to be empowered to pick up the phone
11:28and call your creditors same thing i put
11:30the atm nutella in the same kind of uh
11:33category because guys you can also take
11:35your credit card to that bank or
11:37sometimes the bank that will do this and
11:39obviously they're going to want the
11:40physical card and usually going to one
11:42id also but the same way you do the atm
11:44they'll then let you take the money off
11:46the actual credit card
11:48like you know guys obviously contingent
11:50on the amount that you're allowed to
11:51take out okay so the first way was
11:53credit card loans the second way was atm
11:55or tellers okay now the third way guys
11:58is using a merchant account and i'm
11:59actually going to put paypal and square
12:02in here also as an example okay merchant
12:04account paypal square so what is a
12:07merchant account guys if you are a
12:09business owner
12:10um guys i'm sorry i'm hot like on my
12:11front porch you guys know i keep on
12:12doing my videos my first unfortunate is
12:14so hot on here okay so this is where if
12:17you have a merchant account it's set up
12:19for you to be able to take like credit
12:21card and debit card payments even like
12:23with paypal guys i use paypal to let
12:24people have paypal you can have personal
12:27or business you can link multiple
12:29payment sources mine has multiple
12:31payment because i have personal i have
12:33business so i want you to think about it
12:35you can have your business credit card
12:37linked you can have your business
12:38account linked you can have your
12:40personal account linked you can very
12:41easily now you send money you can send
12:44money to yourself maybe your personal
12:45account maybe your business account but
12:47the payment source you can switch right
12:50so the payment source could be your
12:51business credit card and then you are
12:53paying you know maybe yourself now
12:55obviously guys nugget here like have a
12:57reason put something in the memo maybe
12:59you did something for your business
13:00maybe you worked overtime maybe it was a
13:01project maybe it was reimbursement right
13:03you know my channel is about you guys
13:04doing things the right way but yes with
13:07paypal with square with the merchant
13:09account you can essentially use a
13:10business credit card or a personal
13:12credit card have a transaction have an
13:15invoice or send money and have the money
13:18from the credit card deposited into
13:20either your personal account or business
13:22account depending on your needs and your
13:25setup that's a super smart way to do it
13:27a lot of times the fees are a lot less
13:28like one percent one point five percent
13:31two percent so check and see what you
13:33have link your account link your credit
13:35cards maybe you upgrade to a business
13:37account but you can 1000 do it that way
13:40um another way guys um that i talk about
13:42a lot is like your balance transfers and
13:44also your checks so guys when you get
13:46these credit cards business and personal
13:48sometimes you will get these blank
13:49checks guys you can actually write these
13:51checks out to yourself
13:53yes you can get this in mind you're
13:55usually equal to your credit limit so
13:57let's say your credit limit is fifteen
13:58thousand dollars and you write yourself
14:00a five thousand dollar check and you put
14:03it into your bank account you take it to
14:05the 18 and the deposit you take it to
14:07your teller then because that is a check
14:10from your credit card company linked to
14:12your credit card that five thousand
14:14dollars will go right into your bank
14:15account yes y'all that's even amazing
14:18when you have like the zero percent apr
14:20because a lot of times you may not be
14:21hit with a whole bunch of fees now
14:23nugget here a bunch of credit cards
14:24don't have those checks but guess what
14:26you guys can also do if you got a credit
14:29card and they did not send you any
14:31checks guys you can call them and say
14:33can i have some balance transfer checks
14:35can i have some checks for my credit
14:37card and a lot of times they will send
14:39you like one or two guys write the check
14:41out to yourself to pack it into your
14:42bank there is nothing you wrote a check
14:44from your credit card to yourself
14:46got it got it good guys and the last way
14:49right is peer-to-peer so this is where
14:51it's going to take somebody in your
14:53network you know friends family business
14:55owner or whatever for this to work but
14:56let me give you an example
14:58so say you have a fifteen thousand
15:00dollar credit card and you have a friend
15:03who's about to spend five thousand
15:05dollars cash to go buy like you know
15:06little get around car from like the hood
15:08or whatever you can say give me that
15:11five thousand dollars i will put your
15:13car on my credit card peer-to-peer
15:16meaning that somebody was able to use
15:18your credit card or you allowed them to
15:20use the credit card or you made a
15:21purchase for them and they gave you the
15:24for it got it so peer to peer now guys
15:27some of the shady ways that i did not
15:29cover in here a lot of these videos have
15:31you guys buying things from places and
15:33then returning it to buying store like
15:36going to the store and buying things and
15:37returning it
15:40now it's not technically illegal illegal
15:42but you can be flagged it's not the
15:44right way to do it a lot of stores are
15:45hip to it sometimes you'll buy all this
15:47stuff and they'll only give you like a
15:48store credit or they won't put it all on
15:49your card like it's a lot of research
15:52and leg work that goes into it
15:53especially if you want to do like a
15:55money if you just need like 100 or 50
15:57like that may not be too severe but a
15:58lot of you guys need a lot more than
16:00that so i did not tell you to use your
16:02credit card and go to a store and buy a
16:04bunch of items and return it i didn't
16:06say that okay other places will also
16:08tell you like to buy things and put half
16:10of it on your credit card and half of it
16:12on your debit and then return it and
16:14then then only give them your debit card
16:16and it goes in i didn't tell you guys to
16:18do that either some places do also tell
16:20you some of these videos tell you to go
16:21buy gift cards now i'm not all the way
16:23like opposed to that like you can have
16:25you know a thousand dollar credit card
16:27and buy you know a 500 gift card and
16:30then go sell it to somebody has to be
16:31worth it for them for like 475 or 450 or
16:35whatever it is like whatever the going
16:36rate for that is because i don't use the
16:38method like that but i'm letting you
16:39guys know there's some of the other
16:41videos out here some of the the ways
16:42that i actually consider to be not as
16:44profitable a little tiny bit shitty but
16:46the gift card way is not bad but usually
16:48you're going to get less than what you
16:50paid for because it has to be worth it
16:51for the person right so you give them a
16:52thousand dollar credit card you put it
16:54on and you pay for it with your credit
16:56card but you're asking to give you like
16:57800 cash it technically worked right you
17:00got cry you got money off of your credit
17:02card but you got a lesser amount and to
17:04me that's hustling backwards i'm just
17:06going to say it but those are all other
17:08ways that i don't really recommend i
17:11give you five legitimate ways credit
17:13card loans balance transfer checks a
17:16merchant account paypal square i'm going
17:19into an atm or a teller we're doing
17:21peer-to-peer got it got it good guys and
17:23guys for my nugget i'm gonna keep it
17:25simple i need you to learn to trust
17:28god's timing guys i want you to
17:30understand that anything great does not
17:32happen overnight you ever hear about
17:33that saying like you know it takes six
17:35months to make a rolls royce and 13
17:38hours to make a toyota and no disrespect
17:40to toyota's because i love toyota's but
17:41you know what i mean right so sometimes
17:44god is working on something even bigger
17:45than what you can imagine and because
17:47it's not unfolding the way that you
17:49think or in your time you think you made
17:51a wrong decision you think this is not
17:52for you guys learn to trust god's timing
17:56because when something great is in store
17:59for you it's going to happen and take a
18:01little bit longer than overnight okay so
18:03be patient hold on stay the course know
18:07you're capable know you're equipped and
18:10know that when that thing hits it's
18:12going to be even more amazing more
18:14miraculous overflow and abundance from
18:16what you ever even imagined that's why
18:18he had you wait because he was making it
18:21bigger he said believe
18:23bigger amen all right guys i hope that
18:25was helpful like share comment and have
18:27a super amazing day on purpose
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FAQs about This YouTube Video

1. How can I turn my credit into cash?

In this video, Terry discusses five legitimate ways to liquidate your credit cards and turn your credit into cash. She emphasizes the importance of using credit for income-producing purposes and urges viewers to invest in things they know about.

2. What are some income-producing purposes for using credit?

Terry highlights the importance of using credit for income-producing purposes. She suggests investing in things that one knows about and can generate income, emphasizing the positive use of credit for financial growth.

3. What are the legitimate ways to access cash from credit cards?

Terry discusses legitimate methods like credit card loans, using ATMs, and balance transfers as ways to access cash from credit cards. She provides insights on the proper and responsible use of these methods.

4. What are the benefits of using credit card loans?

Terry explains the benefits of using credit card loans, emphasizing their legitimacy as a source of cash. She provides valuable information on the responsible management of credit card loans for financial needs.

5. How can I responsibly use balance transfers to access cash?

Terry advises on the responsible use of balance transfers to access cash, ensuring viewers understand the legitimate ways to utilize this method. She emphasizes the importance of financial responsibility when using balance transfers for cash access.

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The video discusses what to do when your ex breaks no contact and reaches out, emphasizing the importance of being reserved, moving slowly, and not getting too excited or ignoring them. It highlights the possibility that your ex may not actually want to get back together, but may be seeking a bailout or reassurance.

The video provides an overview of the Beery VMI assessment, which is a standardized test used for individuals aged 2 to 100 to assess visual motor integration, visual perception, and motor coordination. The video also includes tips and tricks on using the assessment effectively and provides guidance on scoring and interpreting the results.

The video is a compilation of episodes from Season 1 of "El secreto de Jae-kyung" where the protagonist, Kiri, discovers the secret of her best friend, Yae. The story revolves around their interactions and conflicts, including a misunderstanding where Kiri rejects a confession from a guy. However, they eventually reconcile and confront Yae's brother together.

Contemporary literature encompasses a wide range of genres and styles, reflecting social and political viewpoints of the authors, with themes ranging from globalization to climate change. Notable authors in Mexico include Juan Rulfo and Elena Poniatowska, while in Spain, Javier Marías and Rosa Montero are renowned. In Colombia, Gabriel García Márquez stands out as a prominent figure, known for his contributions to magical realism.

The video discusses a review of the Red Panda Stock Club, concluding that it is not recommended for paying customers and lacks value. The program offers little educational content and primarily consists of 10-minute Zoom sessions, which are frequently canceled. There are also concerns raised about the high prices and lack of unique content for the amount paid.

Andrew Huberman discusses his consistent diet and nutrition routine which includes time-restricted feeding, low-carb meals, and the inclusion of fermented foods. He also mentions the effects of TRT on his appetite for sugar and processed foods, and his use of supplements such as fish oil, probiotics from fermented foods, and a multivitamin. He emphasizes the importance of individualized approaches to nutrition and finding what works best for each person.