Can You Pay a Credit Card Bill With Another Credit Card?

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Credit Card

A credit card bill or statement constitutes all the details of the numerous purchases, payments, transactions, etc. entailed through the credit card during a billing cycle. The customer owes the credit card company an amount that is supposed to be paid after enjoying a grace period. Other monetary obligations that accompany most credit cards are interest rate, joining fee, and credit card annual fee.

As the credit card statement gets released and the due date draws near, the pressure of clearing the dues consistently escalates. If customers default in paying the credit card bill, a penalty in the guise of interest rate awaits them. It may be possible that one runs out of cash or other savings and then tries to explore other means to repay the credit card company.

 This is where a vital query arises –can we pay credit card bills through other credit cards?

Technically and realistically speaking, there is no outright method to utilize a credit card for paying another credit card’s bill. Moreover, the debt is doesn’t just disappear; it just gets transferred from one account to another.

No credit card issuing financial institution accepts payment in the form of another credit card as it leads to the creation of a complicated and infinite debt loop. However, there are roundabout ways of employing a credit card for this task. Here’s an informative guide to utilizing credit cards indirectly for repayment purposes, as direct methods are neither feasible nor available.

  • Through cash advance: One way of deploying a credit card for clearing off the dues of another card is through the medium of cash advance. Withdraw money from an ATM using the credit card and deposit it into your account to finance the payment. However, this facility of cash withdrawals through credit cards comes with its own barriers.
  •  A ceiling or an upper limit hinders people from withdrawing beyond a certain limit. Moreover, a fee is charged on every such transaction, but there are exceptions. The Bajaj Finserv RBL Bank SuperCard sanctions withdrawals from ATMs sans any interest for a period of 50 days.
  • Via e-wallet: Another indirect method of employing a credit card for clearing the bill of its counterpart is through the medium of e-wallet. Transfer money from the respective credit card to an e-wallet and then avail of the latter to pay the outstanding loan.
  • Through balance transfer: Several prominent banks and other financial institutions like ICICI Bank, Kotak Mahindra Bank, SBI etc. extend the facility of a balance transfer. In simple terms, a balance transfer means relaying the money one owes on a credit card to another. Through this procedure, the amount outstanding on the first card gets fully realized by the issuing bank and the customer owes the amount to the other card. This is yet another means of indirectly deploying a credit card for settling the bill of another credit card.

The provision of a balance transfer is usually availed when the interest rate falls on another credit card. The plunge in interest rate allows substantial saving. Moreover, the transfer earns the customer some breathing space in the form of an interest-free or grace period.

 Another point to be noted is that a bank will only allow a transfer if the other credit card has been issued by some other financial institution. One cannot engage in shifting an amount from one card to another if both are issued by the same bank.

The question, “Can we pay credit card bills through another credit card?”, thus gets answered. To summarize, there is no straightforward option accessible to deploy a credit card to settle the bill of its counterpart like it is employed for clearing utility bills. However, there are roundabout ways to fulfill the function, and these methods involve cash advance, balance transfer, etc.

If you’re searching for the best credit card available in the market, opt for Bajaj Finserv RBL Bank SuperCard without any second thought. The credit card annual fee of this SuperCard is reasonable, and it extends numerous benefits — rewards, EMI facility, and instant loan approval among others.

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