Can I use another credit card to pay a credit card bill?

 Can I use another credit card to pay a credit card bill?

When you don't have any cash on hand, a credit card enables you to make purchases and settle debt. When you don't have enough money to buy expensive items all at once, it also makes it easier to buy them in installments. While a credit card might help you in a need, it's also important to make your payments on time to avoid incurring high fines from the card issuer in the form of interest rates and late payment fees. 

The majority of us wonder whether it is possible to pay one credit card bill with the aid of another credit card, even though you must have a sufficient balance in your account to do so.

How to pay a credit card bill with a different credit card

The majority of credit card companies don't allow you to pay a credit card debt with another credit card. While a few credit card companies offer this feature, using it could result in additional costs and higher interest rates, which could worsen your financial condition.

However, there are three other methods you can use the credit card to make a credit card payment if you nonetheless require to.

Through the use of balance transfers

through securing a cash advance

Using an e-wallet

Balance transfer for credit card payments

You can transfer the balance on your credit card to one with a bigger limit or a lower interest rate using this procedure. You may be given a further six months to pay your payment at an additional balance transfer cost.

However, some banks also don't charge for balance transfers. Before transferring your credit card balance, there are a few considerations to make.

Your Cibil score may potentially be impacted by the balance transfer.

The cost for the balance transfer may need to be paid.

Make sure the credit card you are using to transfer the balance has a high enough limit to adjust the transferred amount.

Cash payment with a credit card

In this scenario, an automated teller machine (ATM) is used to obtain cash withdrawals using a credit card.

After you've made that deposit into your bank account, pay your credit card bill online.

However, this is the most dangerous way to pay your credit card account because using a credit card to withdraw cash from an ATM carries a high interest rate that might end up costing you a lot of money over time.

 

Payment using a credit card using an e-wallet

You can use this service to transfer money from your credit card to your bank account or an e-wallet.

Platforms that support this kind of transfer often impose a 2% fee.

Although you can pay with a credit card, the platform charge means that your total credit card bill is higher.

Conclusion

As a result, it is clear that you can pay one credit card bill by transferring the balance of another credit card bill, take money from an ATM, deposit it in a bank account, and then pay the bill by transferring the money into an e-wallet or a bank.

While these techniques offer some convenience, they also raise your overall credit card bill, which raises the prospect of accruing more debt.

It is advised that you use the standard procedures to make your credit card payment on time.