Paying Credit score Card Invoice With One other Credit score Card, Is it Okay?

A bank card turns into an enormous assist when you will have a scarcity of cash and wish to purchase one thing. For those who like one thing costly and you may’t pay directly, then a bank card facility lets you pay the invoice in instalments. However this profitable service must be recharged by paying payments on time. A bank card invoice must be paid earlier than the due date throughout the month-to-month billing cycle. Nevertheless, for any cause, in case you are not capable of pay again, you might face penalties, late fee charges and better rates of interest. Because of this, out of desperation, customers with a number of bank cards typically marvel if paying bank card invoice with one other bank card is secure. Let’s get the reply.

Paying Credit Card Bill With Another Credit Card

Paying Credit score Card Invoice With One other Credit score Card Is a Good Choice?

Most bank card corporations don’t can help you pay your bank card invoice with one other bank card. Some exceptions exist, however utilizing this feature might end in further charges and better curiosity fees, which might worsen your monetary state of affairs.

Nevertheless, in case you are prepared for paying bank card invoice with one other bank card, you are able to do so in three alternative ways.

Through stability switch

With this method, you may transfer your remaining bank card stability to a card with the next restrict or decrease rate of interest. This provides you further time, normally as much as six months, to pay your invoice, however there’s an added stability switch charge.

Nevertheless, a number of banks might waive the stability switch charge. Earlier than you proceed with a bank card stability switch, keep in mind these key factors:

  • It might influence your credit score rating.
  • There may be a stability switch charge.
  • Make sure the receiving bank card has a excessive sufficient restrict for the transferred quantity.

Additionally learn:

All of the Strategies to Withdraw Money From ATM With out Debit Card

Getting a money advance

On this technique, you’re taking out money from an ATM utilizing your bank card.

Subsequent, deposit that money into your checking account and use it to pay your bank card invoice on-line.

However keep in mind, this can be a dangerous method to pay as a result of withdrawing money from an ATM together with your bank card normally comes with a high-interest price, which may value you extra in the long term.

Utilizing e-wallet

With this service, you may switch cash out of your bank card to both an e-wallet or your checking account.

However understand that platforms providing this switch normally cost a 2% charge.

So, whereas it helps you make bank card funds, keep in mind that your whole bank card invoice might be barely increased because of the platform charge.