I have 4 credit cards all are clean no outstanding balance at all . I'm about to purchase a plane ticket so I would use 1 of my credit card when payment is due I will pay it with another credit card until I use the 4th card (I know I won't incur interest on it since I'm paying it on time) .Sort of delaying it for 4 months & paying it full on the 5th month using my checking account . Is this possible & ok ?
2007-03-09 10:54:03 · 6 answers · asked by Agent_Detergent 2 in Business & Finance ➔ Credit
I don't know of any credit cards that will let you pay their bill with another credit card.
You could take a cash advance off one card or transfer the balance but then you'd be paying the cash advance fee or balance transfer fee which is about $20. Kind of pricey doing that 4 times. It just cost you $80 bucks extra.
One of the reasons you can't pay a credit card with another credit card is to keep people from transferring debt and never paying it off. With your theory, you wouldn't ever have to pay the bill at all. You could just start all over in 5 months and go back to the first card.
2007-03-09 10:58:33 · answer #1 · answered by Faye H 6 · 2⤊ 0⤋
Transferring a balance from one card to another is often treated as a cash advance. Most cards charge interest from the first day on a cash advance. Even if that does not apply in your case, odds are you will spend the money in your checking account before you get around to paying off the ticket.
2007-03-09 21:20:11 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
This is possible, but you may have additional fees for balance transfers. You also want to be careful and not transfer the amount to a card if the ticket is 30% of the your limit or you will hurt your credit score.
2007-03-09 18:59:16 · answer #3 · answered by Mariposa 7 · 0⤊ 0⤋
Great idea, but you have to make sure you won't be paying interests. Some credit cards a charging interests on money advance from the first day you use the money.
http://simple-credit-cards-and-loans.com/?=yh070312
Good luck !
2007-03-13 02:07:37 · answer #4 · answered by carlos 5 · 0⤊ 0⤋
You won't be able to pay for one credit card with another. And don't listen to anyone that says you could take out a cash advance, but it is extremely expensive to do so.
2007-03-09 19:29:10 · answer #5 · answered by Jason 3 · 0⤊ 0⤋
It's possible, but why?
You will incur charges to transfer the balance.
You cannot float checks indefinitely, no.
2007-03-09 18:59:49 · answer #6 · answered by pepper 7 · 0⤊ 0⤋