How do you pay a credit card with a credit card
There are 3 methods by which you could use your credit card to pay another credit card’s bill.
- Through Cash. Withdraw money from ATM for the credit card you want to make the payment with.
- Through e-wallet. Transfer the money to an e-wallet from the credit card you want to make the payment with.
- Through Balance Transfer.
Can you pay a credit card bill with another credit card
Yes, you can pay credit card bills using another credit card, via balance transfer, as mentioned by other users earlier. You cannot use another credit card on a normal online payment option like billdesk, etc. to pay your credit card bill.
Why can’t you pay a credit card with a 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.
Is it smart to pay off a credit card with another credit card
In some cases, moving a credit card balance onto another card (known as a balance transfer) makes good financial sense, because it can simplify your payments and may help you save on interest charges. However, sometimes paying one card off with another can lead to more financial problems.
Is it illegal to pay a credit card with a credit card
The short answer is no, at least not in that way. Credit card issuers typically don’t accept credit cards as a regular payment method. Rather, they generally request that you make your payment using your checking or savings account, or with cash or check at a local branch, ATM, over the phone or by mail.
What are the different types of payment methods
Payment method types
- Credit Cards. As a global payment solution, credit cards are the most common way for customers to pay online.
- Mobile Payments.
- Bank Transfers.
- Prepaid Cards.
- Direct Deposit.
What bills can I pay with a credit card
Let’s look at which types of bills make the most sense to pay by credit card.
- Car payment.
- Car and home insurance.
- Health insurance.
- Utilities, cellphone, internet, cable.
- Subscription services.
Can you withdraw money from a credit card
Yes! Most credit cards will let you withdraw cash at an ATM. Borrowing money on your credit card is a cash advance, a type of short-term loan, and it’s worlds away from a simple debit card cash withdrawal. Cash advances usually come with very high fees.
How can I pay my credit card bill with debit card
One popular offline method to pay your credit card bill using a debit card is to pay through the respective bank’s ATM kiosk. Most of the banks allow you to visit their bank ATMs to make credit card payment of their own credit cards. However, you cannot use a debit of one bank to pay credit card bill of another bank.
Is it bad to pay your credit card twice a month
Making Multiple Credit Card Payments Can Be Beneficial
It also means you won’t be spending money on interest fees. Ideally, you should pay your credit card balances in full each month. Keep in mind that even if you pay your credit card bill in full every month, your credit report may not reflect a zero balance.
Can I pay a loan with a credit card
Yes, a credit card can pay off a personal loan.
“You can use a credit card to pay off a personal loan,” advised personal finance writer and credit card expert Ben Luthi. “Some credit card issuers will allow you to do it directly through your online account like any other balance transfer.
Do balance transfers hurt credit score
A balance transfer can hurt your credit score by increasing your single-card utilization, lowering your length of credit history and adding a hard inquiry to your credit report. But it can also boost your score by increasing your overall card utilization, and it can help you pay off debt faster.
What happens to credit card debt if I die
Unfortunately, credit card debts do not disappear when you die. The executor of your estate, the person who carries out your wishes, will use your assets to pay off your credit card debts. But when your credit card debts have depleted your assets, your heirs can be left with little or no inheritance.
How many credit cards should I have
The short answer: you should have at least two – ideally each from a different network (Visa, Mastercard, American Express, Discover, etc.) and each offering you a different kind of rewards (cash back, miles, rewards points, etc.). How many credit cards is too many?