February 27, 2024

A bank card turns into a giant assist when you may have a scarcity of cash and wish to purchase one thing. Should you like one thing costly and you may’t pay without delay, then a bank card facility lets you pay the invoice in instalments. However this profitable service needs to be recharged by paying payments on time. A bank card invoice needs to be paid earlier than the due date through the month-to-month billing cycle. Nonetheless, for any purpose, in case you are not capable of pay again, you could face penalties, late fee charges and better rates of interest. Because of this, out of desperation, customers with a number of bank cards usually marvel if paying bank card invoice with one other bank card is secure. Let’s get the reply.

Paying Credit score Card Invoice With One other Credit score Card Is a Good Choice?

Most bank card firms don’t can help you pay your bank card invoice with one other bank card. Some exceptions exist, however utilizing this selection might lead to additional charges and better curiosity costs, which may worsen your monetary scenario.

Nonetheless, in case you are prepared for paying bank card invoice with one other bank card, you are able to do so in three other ways.

Through steadiness switch

With this strategy, you may transfer your remaining bank card steadiness to a card with a better restrict or decrease rate of interest. This offers you additional time, often as much as six months, to pay your invoice, however there’s an added steadiness switch charge.

Nonetheless, a couple of banks might waive the steadiness switch charge. Earlier than you proceed with a bank card steadiness switch, keep in mind these key factors:

  • It may impression your credit score rating.
  • There is perhaps a steadiness switch charge.
  • Make sure the receiving bank card has a excessive sufficient restrict for the transferred quantity.

Additionally learn:

All of the Strategies to Withdraw Money From ATM With out Debit Card

Getting a money advance

On this methodology, you are taking out money from an ATM utilizing your bank card.

Subsequent, deposit that money into your checking account and use it to pay your bank card invoice on-line.

However keep in mind, it is a dangerous option to pay as a result of withdrawing money from an ATM together with your bank card often comes with a high-interest fee, which might value you extra in the long term.

Utilizing e-wallet

With this service, you may switch cash out of your bank card to both an e-wallet or your checking account.

However remember that platforms providing this switch often cost a 2% charge.

So, whereas it helps you make bank card funds, keep in mind that your complete bank card invoice will probably be barely larger as a result of platform charge.