You can send money with a credit card, but it costs more and works differently than a debit card or bank transfer
A credit card money transfer lets you send funds to another person's bank account or to a third-party service that holds the money temporarily. The catch: credit card companies charge a fee (usually 3 to 5 percent of the amount) because they treat it as a cash advance or balance transfer, not a regular purchase. You also start paying interest when ready—there is no grace period like you get with regular credit card purchases.
Most people use credit cards to send money only when they have no other option: the recipient needs funds urgently, they don't have access to a bank account, or they're building credit and want the transaction to show on their credit report. If you have a debit card, bank account, or a service like Venmo or PayPal, those are almost always cheaper and faster.
Key Takeaways
- Credit card money transfers cost 3 to 5 percent in fees plus interest that starts accruing when ready, making them expensive compared to bank transfers or peer-to-peer apps.
- You can send money through your credit card issuer's website, a money transfer service like MoneyGram or Western Union, or a peer-to-peer app that accepts credit cards.
- The recipient receives funds in their bank account within one to three business days, or when ready if using certain apps, depending on the method you choose.
- Interest on a credit card money transfer begins right away, so the total cost grows each day the balance sits unpaid.
Three ways to send money with a credit card
Through your credit card issuer: Log into your credit card account online or call the customer service number on the back of your card. Look for options labeled "balance transfer," "cash advance," or "send money." You'll enter the recipient's bank account details and the amount. The issuer transfers the funds directly to their account, usually within one to three business days. Fees run 3 to 5 percent of the amount sent, charged to your credit card balance when ready.
Through a money transfer service: Companies like MoneyGram, Western Union, and Remitly accept credit cards as payment. You create an account on their website or app, enter the recipient's information, and choose how they receive the money—direct deposit to their bank account, cash pickup at a location, or mobile wallet. These services charge their own fees on top of any fee your credit card issuer charges for the cash advance. Delivery times range from minutes to three business days depending on the service and destination.
Through a peer-to-peer app: Apps like PayPal, Square Cash, and Venmo let you link a credit card and send money to another user's account. The recipient can then transfer it to their bank account. Most apps charge a fee (usually 2 to 3 percent) when you use a credit card instead of a debit card or bank account. This method is fastest for sending to someone who also uses the app, but slowest if the recipient needs to move the money to their bank afterward.
What fees and interest you'll pay
A credit card money transfer triggers two separate costs. The transfer fee is charged upfront—typically 3 to 5 percent of the amount you send, though some issuers charge a flat fee instead (for example, $5 or $10 minimum). This fee is added to your credit card balance when ready.
The interest charge starts the day you make the transfer. Unlike a regular purchase, there is no grace period. If you send $500 and your card's APR is 18 percent, you'll owe roughly $7.50 in interest for the first month if you don't pay the balance down. The longer the balance sits, the more interest accumulates. If you can pay off the transfer within a few days, the interest cost stays small. If it takes weeks or months, interest can exceed the original transfer fee.
Some credit cards offer promotional periods (0 percent APR for 6 to 12 months) on balance transfers or cash advances, which can eliminate the interest cost if you pay within that window. Check your card's terms or call the issuer to see if this applies to money transfers.
How long it takes to reach the recipient
Timing depends on the method and the recipient's bank. Direct bank transfers through your credit card issuer or a money transfer service usually take one to three business days. The funds land in the recipient's account, and they can withdraw or spend them when ready.
Peer-to-peer apps are faster if both people use the same app—the money can arrive in minutes. But if the recipient needs to move it to their own bank account afterward, add another one to three business days for that step.
Cash pickup at a MoneyGram or Western Union location can be when ready or same-day, but the recipient has to physically go to a location and present ID. This is useful if they need cash in hand, but slower if they just need the money in their account.
When to use a credit card to send money
Credit card transfers make sense in a few specific situations. If you're building credit and want the transaction to show on your credit report, a money transfer can help—it shows as a balance on your card, which factors into your credit utilization and payment history. If you're earning rewards on your card, some issuers count cash advances or balance transfers toward bonus categories, though most do not.
If the recipient doesn't have a bank account and you need to get them money, a credit card transfer to a money transfer service (where they pick up cash) or to a peer-to-peer app (where they can hold it temporarily) works. If you're in a pinch and have no other payment method—your debit card is lost, your bank account is frozen, or you're traveling—a credit card is your backup option.
In almost every other case, use a debit card, bank transfer, or peer-to-peer app instead. They cost less and don't trigger interest charges.
Comparing credit cards to other ways to send money
| Method | Typical Fee | Interest | Speed | Best For |
|---|---|---|---|---|
| Credit card transfer | 3–5% | Starts when ready | 1–3 business days | Building credit, no other option |
| Debit card transfer | $0–2 | None | 1–3 business days | Routine transfers, lower cost |
| Bank wire transfer | $15–30 | None | Same day or next day | Large amounts, urgent need |
| Peer-to-peer app (debit/bank) | $0–1 | None | Minutes to 1 day | Splitting bills, casual transfers |
| Peer-to-peer app (credit card) | 2–3% | None (usually) | Minutes to 1 day | Quick transfer, building credit |
Steps to send money with your credit card
Step 1: Decide which method to use. If your credit card issuer offers a money transfer service, start there—it's usually the simplest. Otherwise, choose a money transfer service or peer-to-peer app based on where the recipient needs the money (bank account, cash pickup, or app wallet) and how fast they need it.
Step 2: Gather the recipient's information. You'll need their full name, bank account number and routing number (for direct deposit), or their username on the app. Have this ready before you start.
Step 3: Log in and initiate the transfer. Go to your credit card issuer's website, the money transfer service, or the app. Select "send money," "transfer funds," or the equivalent option. Enter the recipient's details and the amount you want to send.
Step 4: Review the fee and total cost. The system will show you the transfer fee and any other charges. Calculate roughly how much interest you'll pay if you don't pay off the balance when ready. Confirm you're comfortable with the total cost before proceeding.
Step 5: Confirm and submit. Double-check the recipient's information—a typo in a bank account number can send money to the wrong person. Submit the transfer. You'll receive a confirmation number and an estimated delivery date.
Step 6: Pay off the balance as soon as possible. The transfer appears on your credit card statement as a balance. Pay it down or off quickly to minimize interest charges. Set a reminder if the transfer is large.
Frequently Asked Questions
Can I send money with a credit card to someone without a bank account?
Yes, but you need to use a money transfer service like MoneyGram or Western Union that offers cash pickup. You send the money via credit card, and the recipient picks it up at a physical location with ID. Some peer-to-peer apps also work if the recipient can hold the money in an app wallet temporarily, though they'll eventually need a bank account to withdraw it.
Will sending money with a credit card hurt my credit score?
It can, temporarily. The transfer adds to your credit card balance, which increases your credit utilization ratio—the amount of credit you're using compared to your limit. High utilization can lower your score slightly. Once you pay off the balance, your score typically recovers. If you're building credit, the on-time payment history helps long-term.
What happens if I send money to the wrong account?
Contact your credit card issuer or the money transfer service when ready. If the transfer hasn't been processed yet, they may be able to stop it. If it's already gone through, the issuer can file a dispute, but recovering the money depends on the recipient's bank and whether they cooperate. This is why double-checking the account number before submitting is critical.
Can I send money internationally with a credit card?
Yes, through money transfer services like Remitly, OFX, or Western Union, which specialize in international transfers. Fees are higher (5 to 10 percent or more) and delivery is slower (3 to 7 business days typically). Exchange rates also explore if you're converting currencies. Check the service's website for the countries and delivery methods they support.
Is there a limit to how much I can send?
Yes. Your credit card issuer sets a cash advance limit, which is usually lower than your overall credit limit—often 20 to 50 percent of it. Money transfer services and peer-to-peer apps also have daily and monthly limits. Check your card's terms or the service's website to see what applies to you.