Paying the balance on one of your credit cards with another credit card is possible. But when you make a credit card to credit card payment, you’re not reducing debt— you’re simply moving it from one account to another. Whether or not this is a good idea depends on factors such as interest rates, your overall credit and debt situation and whether you have a plan or are scrambling to keep up with payments. How Can I Pay My Credit Card Bill 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. But that doesn’t mean you can’t use one credit card resource to pay off or make payment on another’s balance. Cash advances and balance transfer offers are two ways you can make this happen. How Do You Pay a Credit Card with a Cash Advance? A cash advance involves using your credit card to take out money from an ATM or at the teller window at your bank. You may pay a fee for this, and you’re usually limited to the amount you can advance yourself during each day, statement cycle or withdrawal attempt. That makes it difficult to get enough cash to pay off a large balance, but you might be able to take out enough to make your minimum payment every month. Once you get the cash, you have to convert it into a format that lets you pay your credit card bill. You can deposit it into your checking account or buy a money order to […]

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Are Credit Card to Credit Card Payments Possible and a Good Idea?

Paying the balance on one of your credit cards with another credit card is possible. But when you make a credit card to credit card payment, you’re not reducing debt— you’re simply moving it from one account to another. Read More...

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