Can You Pay a Credit Card Bill With Another Credit Card?No, typically you cannot directly pay off a credit card using another as your form of payment. However, you can do so indirectly. Show
There are two credit card resources that you can use to pay the balance of another. How Can You Use One Credit Card to Pay Another?There are a couple ways you can use one credit card to pay the balance of another: 1. Taking out a cash advance. 2. Using a balance transfer. Knowing what these options entail, as well as the pros and cons of each, can help you decide if either approach is the right financial move for you. How to Pay a Credit Card With a Cash AdvanceA cash advance is a short-term loan from a credit card issuer, allowing a cardholder to use their credit card at an ATM or bank to take out cash against their line of credit for immediate use. Cardholders may choose to take out a cash advance on one credit card, deposit those funds into a bank account, and then use them to then pay off the balance of another credit card. The main thing to remember, however, is that a cash advance is a loan from the credit issuer, so it must be paid back with interest. Using a Balance Transfer to Pay Another Credit CardA balance transfer is exactly what it sounds like: transferring the balance of one credit card to another card. Credit card companies may offer cardholders the opportunity to transfer other credit card balances to their account with them—oftentimes with low- or no-interest introductory rates—or cardholders may apply for a new card that allows them to transfer a different balance to the new one. The idea is the cardholder takes the balance from a higher-interest card and transfers it to a different or new account with a lower interest rate. Depending on how much is transferred, this option allows cardholders to clear the balance of one credit card by transferring it to another, which they are now responsible for paying as one balance. The Pros of Using One Credit Card to Pay AnotherDone responsibly, there are some benefits to using a cash advance or a balance transfer to pay off a credit card bill.
The Cons of Using One Credit Card to Pay AnotherThere are also potential disadvantages to using a cash advance or a balance transfer to pay off a credit card bill.
Final Thoughts on Using One Credit Card to Pay AnotherWhile balance transfers and cash advances can both be short-term solutions to paying off credit card debt, they are not a replacement for healthy financial planning and management as they both come with long-term risks. The best way to pay down credit card debt and build a healthy credit score, after all, is by making timely payments every month of at least the minimum amount due. However, if you do choose to explore one of these options to pay off your credit card bill, it’s important to do your homework first and weigh the pros and cons based on your financial situation before committing to them. Can we pay money from one credit card to another credit card?Quick and Easy: If the customer is able to meet the eligibility criteria of a balance transfer then the banks will allow the customer to transfer the balance from one credit card to another bank's credit card within a short period of time. This is a timely help for the customer to deal with the credit card debt.
Why can't you pay off a credit card with another credit card?Typically, you can't simply pay your credit card bill with another card as if you were paying your utility or phone bill. Credit card companies don't usually accept credit cards as a regular form of payment, in part because it opens the door for debt to revolve through your accounts in an infinite loop.
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