You cannot pay a credit card with another credit card directly, but it is possible to indirectly use the money from one card's credit line to pay another card's bill.
It’s not possible to just enter another credit card number when you go to pay your credit card bill. When you use a credit card, you’re essentially borrowing money from the issuer for the length of your billing cycle, if not longer. And you generally can’t pay back a loan with more borrowed money. However, it is possible to get around that by doing a balance transfer, linking your credit card to a mobile payment app, purchasing a money order, or taking out a cash advance.
How to pay a credit card with another credit card indirectly:
Do a balance transfer: If you’re unable to pay your credit card bill in full and are paying a high interest rate, you may want to consider a balance transfer. This allows you to transfer your credit card balance to a different card with better financing terms (perhaps an introductory period with a 0% APR for a set number of months). That way, you can pay off your credit card bill over time without worrying about as much interest being applied. This does amount to paying your credit card bill with a credit card, but it’s more of a one-off way to save money on interest than a viable recurring option.
Use a mobile payment service: One way to pay your car loan or lease with a credit card is to use a mobile payment app such as Venmo or PayPal as a middleman. These applications allow you to transfer money from user to user, and you can fund them with a credit card. In other words, you could use your credit card to pay a friend or family member through the app, and they can then make your car payment for you or give you the money to do it yourself. Payments count as purchases, not cash advances, so you can earn rewards with this method. But there are fees to contend with. Venmo, for example, charges 3% of the transaction amount.
Purchase a money order: Companies like MoneyGram and Western Union allow you to send money to a particular phone number or email address, or pickup cash from a physical location, and fund the transaction with a credit card. However, this is usually treated as a cash advance, which means expensive fees and interest charges would apply, in addition to the fees charged by the service. You can learn more about how this works from our explanation of how to transfer money from a credit card to a bank account.
Do a cash advance: You could take out a cash advance at an ATM, then deposit the money into your checking account, and then pay your credit card bill from there. However, considering the high fees and interest rates that accompany cash advances, not to mention the low limits on such transactions, that’s unlikely to work very well. It would be a very expensive way to pay one credit card bill, let alone recurring bills over time. The same generally goes for the various other ways you can transfer money from a credit card to a bank account, too.
Despite the availability of these options, the best way to pay your credit card bills still is to set up automatic deposits from a checking or savings account. As long as you have enough money in your bank account, you won’t miss any payments.
While transferring balance to a credit card with a lower rate might help you short term, it does not solve your problem of being in debt. Start being aggressive on paying off your debt: eliminate all of the expenses that are not absolutely essential and funnel all extra cash towards paying off debt. Get out of the credit card slavery! “The borrower is servant to the lender.” Proverbs 22:7
In most cases, at least for major banks, you can pay your credit card with cash. To do this, you need to go to the bank where the card is issued. You then inform the teller that you’d like to pay your credit card. Also, since cash is pretty much untraceable, banks will notify IRS if it’s more than 10k in cash.… read full answer
Each credit card company has its own policies about the types of debt that you can transfer to its credit cards. All major credit card companies allow you to transfer a balance from another issuer’s credit card but not one of their own. Some issuers also allow you transfer other types of debt, such as a balance from an auto loan, student loan, payday loan, mortgage, etc.… read full answer
For example, you can only transfer credit card debt to a Chase credit card. But nine major issuers – including Bank of America, Barclaycard and Citi – allow you to transfer any type of consumer debt, according to WalletHub research.
Types of Balances You Can Transfer to a Credit Card:
Credit card from a different bank or credit union – All major balance transfer credit cards.
Auto loan, personal loan, mortgage, student loan, etc. – Some balance transfer credit cards.
Credit card from the same bank or credit union – No credit card companies.
The one restriction that all major credit card companies have in common is that you can’t transfer a balance between two cards from the same issuer. Allowing the practice wouldn’t make much sense for the credit card companies. They wouldn’t get any new business out of the transaction. Rather, they’d just be allowing existing customers to refinance their credit card debt.
Finally, it’s worth noting that just because you can transfer a certain type of debt doesn’t mean you should. It’s best to transfer only what you can afford to repay during a card’s 0% intro period. Balance transfer credit cards tend to have high regular APRs, and another 0% transfer card won’t always be there to bail you out.
So, no matter what type of balance you transfer, make sure to use a balance transfer calculator to plan your payments and confirm you’re getting a good deal.
Technically, you cannot pay a Capital One credit card with another credit card. In other words, you cannot enter a credit card account number to pay your bill the same way you would with your bank account number. There are a couple of ways, however, where you can indirectly use a credit card to pay your Capital One credit card bill: Cash Advances and Balance Transfers.… read full answer
A cash advance is when you use your credit card to withdraw money at an ATM, just like with a debit card. You can then use those funds to pay your Capital One credit card. You can also request a convenience check, which looks like a regular check that you can deposit to your bank account. Once the check clears, the amount of the check is charged to your credit card.
Neither approach is a good idea. For starters, cash advances are an expensive transaction. You’ll be charged at fee of 3% to 5% of the transaction amount, along with any ATM user fees. A convenience check would spare you the ATM fee, but it is still considered a cash advance, and all other fees and interest rates would apply.
A cash advance is also subject to a portion of your credit limit, usually 20%. That’s 20% of your total credit limit, so if you have other charges on your card, that will reduce your cash advance limit even further.
Where the real expense kicks in is with the high interest rates. Expect to pay a higher rate than what you’re currently paying. The interest starts to accrue as soon as the transaction occurs, and is not waived by a grace period or a 0%. If you don’t pay off the entire cash advance balance, a new wave of interest – at the Cash Advance rate – will pile on top of current balance, along with any previously accrued interest.
A transfer balance is the more sound option, as long as you pay attention to the terms. Ideally, would want to transfer your Capital One credit card balance to a balance transfer card with an you introductory 0% interest rate. You’ll pay no interest on the amount transferred for a specified number of months, but you’ll likely pay a transfer fee of 3% to 5% of the total transaction. You cannot, however, transfer a balance from one Capital One credit card to another.
The amount you can transfer is capped by your total credit limit, so how much available credit your have will determine how much you’ll be able to transfer. Be sure to factor the transfer fee into your balance transfer amount. Also, using up too much of your credit limit will raise your debt-to-credit ratio and will negatively affect your credit score.
If you’re transferring a balance to a card with a 0% interest rate, make sure you’re aware of when the 0% rate expires and what the new interest rate will be. If you don’t pay off the entire balance transfer by the end of the introductory period, any unpaid balance will be charged at the regular interest rate.
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