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Business Credit

6 Ways to Convert Business Credit Into Cash

By 100 Percent Financed on February, 20 2019
100 Percent Financed

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Converting business credit cards into cash is one of the most popular methods used by real estate investors for down payment money. But how do you convert your business credit cards into cash exactly? If you are looking to convert your business credit into cash, here's what you will need to know.

6 Ways to Convert Your Business Credit into Cash:

1. Convenience Checks
These are checks you get from your bank that are tied to your personal credit cards and used to withdraw cash from your credit line. The steps below detail how to use convenience checks to convert business credit into cash.

Step 1 - Using a convenience check from your personal credit card account, write a payment out to your business entity (assuming you have a business checking account). There is no limit regarding how much you can write on these checks as long as it does not surpass your personal credit card limit.

Step 2 - Go to your business checking account and deposit the check

Step 3 - Contact your business credit card company (the contact number can be found on the back of your credit card), and state that you would like to do a “balance transfer” from your personal credit card account to your business credit card account.

*Tip - Some lenders require that convenience checks be specifically requested by the borrower. So don't forget to ask!

Watch Our Latest Business Credit Webinar

2. Balance Transfer Checks
This alternative solution is similar to the convenience checks in that you can write a check payable from your personal credit card account to your business account for a cash deposit.  Important to know, some lenders do not offer convenience checks, whatsoever. With that stated, follow the steps below just in case you experience this issue. 

Step 1 - If the bank declines your solicitation for convenience checks, request a balance transfer as an alternative option. If, for any reason, the banks ask that you provide account information, simply state that you cannot recall the account number and instruct them to send you balance transfer checks in the mail instead. Banks will typically comply

Step 2 - Go to your business checking account and deposit the check

Step 3 - Call your business credit card company, and state that you would like to do a “balance transfer” from your personal credit card to the business credit card

3. Cash Advances
This method can be intimidating. However, interest rates on cash advances are no different than any other partnership with the bank. If you're an investor, interest is just a part of the game. So let's be clear, you will only be responsible for and incur interest and bank charges for one day (remember, you’ll be carrying out a balance transfer the day following the receipt of your advance). We only recommend using this strategy if your bank declines both convenience and balance transfer checks from your personal credit card account. Follow the steps below for converting credit using cash advances.

Step 1 - Contact your personal credit card lender and ask for the highest cash advance available to access

Step 2 - Go to an ATM and withdraw the maximum amount

Step 3 - Deposit your funds into your business account

Step 4 - Contact your business credit card account and do a balance transfer from your personal credit card account to your business credit card account (just as discussed in the convenience check section above)

4. Merchant Account
This is a high-risk method of converting business credit into cash, so please proceed with caution. For this method to be effective, you will need multiple businesses. The key is to charge your business credit card in transactions secured by a separate and different business and its associated merchant account. Please note, in this transaction scenario, you would be the owner of, both, the card being charged and the business that is utilizing the receiving, merchant account. To reiterate, this method can be cumbersome.

*Tip - Be certain not add to the level of difficulty by exceeding any daily or monthly transaction limits. If you do, you may risk the merchant company canceling your merchant account and freezing your collected funds.

5. Plastiq.com
Plastiq is a newer company that allows you to use your credit cards to pay expenses or contractors that do not accept credit cards (ie. mortgages, insurance, taxes). This, by far, is becoming one of the MOST popular methods of converting credit to cash. With minimal fees, you can wire your converted funds within 24 hours of your transaction.

Click here for more information about how Plastiq works.

6. Special Promotions

This is a shot in the dark but if your options are limited, go for it! Simply, contact your bank and inquire about any available, special offers. In our experience, banks have ran promotions offering no-limit balance transfers with 0% interest for a full year. It wouldn't hurt to try.


Interested in applying for business credit? The team at 100 Percent Financed is here to help! Click here to get an overview of our program, learn about our unique model and common FAQs, and see the states where we currently offer business credit cards.

Watch Our Latest Business Credit Webinar

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