How to pay credit card bill through credit card?

Hi bud! I saw your question where you were asking how to pay credit card bill from another credit card. I was looking to do the same a few weeks back. A relative visited my house for lunch and told me about a process to accomplish this. Let me share the method to help you out.

How to Pay Credit Card Bill to Another Credit Card?

Here is the measure through which you can make a credit card payment through another credit card.

The method is called a balance transfer. This is done by transferring your outstanding amount to the other credit card, which has a lower interest rate. The process involves transferring either the entire balance or a portion of it from one card to another.

You need to inform the new card provider of the details regarding the credit card whose balance is to be transferred. The information comprises the issuer's name, card number and the outstanding balance. The card provider will clear your previous debt after the balance transfer is done. 

However, there are a few things to ponder before you make this move. They are as follows.

1. The balance transfer fee can be between 3-5% of the transferred amount. You must consider this factor first.

2. Your credit score is impacted.

3. The promotional interest rates are provided for a short duration. This can range between 6 and 18 months. Once this period is over, the interest rate will come up to the normal rate.

4. You are required to make payment on time as your debt is still present. In case you don’t, higher interest rates will be charged along with other consequences.

I hope this will help you!

During lockdown, I was anxious about my credit card bill payment. I was low on cash and my savings were drying up quickly so I was wondering can I pay credit card bill through credit card (I have two credit cards). I did some research and finally got a few hacks on how to pay credit card bill through credit card. There is no direct method but something that can be worked around.

Here is how it works:

You can transfer some balance to the e-wallet of your choice from the credit card through which you want to make the payment. Next, login to the credit card payment portal and choose that e-wallet to make payments.

You can withdraw cash from your credit card and deposit it into your checking account. This is one of the easiest ways to pay credit card bill with credit card. 

Again, it is a long route. Use the credit card which has balance and transfer it to another credit card. You will have to pay a fee for balance transfer, keep that in mind. Once you have the balance in your account make the credit card payment.

You should know that there is a risk involved in this process because your credit score gets affected so be sure that you are out of options before looking for how to pay credit card bill through credit card.

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