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I have a zero interest card and I want to move the balance from the high interest card to it. I already transfered the maximum balance to the zero interest card when I signed up for it.

2006-08-27 18:05:38 · 14 answers · asked by Bart 2 in Business & Finance Credit

They said the zero nterest will continue even on chages if I make two charges a month.
I want to make a large payment to the zero interest card and then use that credit to make a large payment to my high interest card. The aero nterest is supposed to continue as long as I make two purchases a month. It is a discover card.

2006-08-27 18:16:10 · update #1

14 answers

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2006-08-28 15:01:33 · answer #1 · answered by Anonymous · 0 0

Traditionally it isn't done, but you can do it.

See if your Discover Card offers credit card checks. Or see if you can fill in the information for a debit card on the high interest credit card payment form. Discover probably doesn't want you to continue making a lot of transfers to their credit card, but usually they give you a time period. They also give you a time period before the 0% interest rate expires. Check the fine print that came with the deal for your Discover Card.

2006-08-31 10:04:11 · answer #2 · answered by Dan S 7 · 0 0

You can, but it's not a good idea. Usually once that credit card company with the zero interest sees what you are doing, they can raise your interest rates because there's more money in it for them. Then you will be in the endless cycle of debt that will take years to pay off.

2006-08-29 09:03:20 · answer #3 · answered by Big Bear 7 · 0 0

You can, but it is a very, very bad idea.

If you've already maxed out the balance transfer then you should just leave it.

Because you don't have any transfer left, you'd have to take out a cash advance, which I guarantee you will sock with exorbitant fees.

You are much better off just keeping the higher rate card and try to pay down that balance first.

2006-08-27 18:08:53 · answer #4 · answered by markmywordz 5 · 0 0

watch the fine print. most zero cards are only on new purchases and if they give you zero on the transfer which they charge for its only good for six months. you can use any card to make payments to another card. many people have several visa's and use one to make payments on others. you usually have to call the company to do it. you can call one visa company to make payments on any other card you have. my mother used to due it until it finally caught up with her and they all get maxed out.

2006-08-27 18:51:36 · answer #5 · answered by hollywood71@verizon.net 5 · 0 0

Stop spending. Get two jobs and get the entire balance paid off. At the end of the 0% period they're gonna blindside you with an outrageous rate. Pay off all your credit cards and throw them away!

2006-08-27 18:10:35 · answer #6 · answered by Babs 7 · 0 1

You can do that by Balance transfer facility. Check out with your bank on this facility and charges/interest rates/maximum transfer amount, etc. so involved.

2006-08-27 18:09:04 · answer #7 · answered by Jatin Shah 2 · 0 0

You used to be able to use paypal to do that sort of thing - not any more. Call your credit card company and see if they'll let you transfer any more. Never hurts to ask.

2006-08-28 00:53:00 · answer #8 · answered by what the heck? 3 · 0 0

yes you can, but but not always. the other credit card company will take over your outstanding and they will not charge interest for few months, it is good idea to utilize.

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2006-08-27 18:43:37 · answer #10 · answered by Anonymous · 0 1

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