Your Questions About Pay Off Credit Card With Another Credit Card

William asks…

What to do pay off another credit card or put money on the procedure I need to have done?

I paid off my 2 highest credit cards. I now have almost 1000.00 dollars tha I could put on the medical procedure Cosmetic and not covered with INSURANCE. or I can take the money and pay on a credit card that gives me low 1.99% interest until November? by the way this amount will pay all but 250.00 on that credit card. What to do? And by the way thank you to everyone who helped with previous question!

richmama answers:

To be in the best financial position in the future, you should put the $1,000 into the credit card and not use credit cards for something that is not needed right away. If you can save up enough to payoff the remainder of the credit card and pay cash for the procedure, you are golden.

Ask yourself this question: Would you borrow money from a friend or family to have this procedure done?

Ken asks…

Using a credit card to pay off another CC?

I have three credit cards:
One with ~17% APR, the other two are 0% APR.

I rarely use the other two (they don’t have a good “cash back” deal). Now, my question is, I’m having a little trouble paying my bills this month, and I don’t want to incur the high ~17% interest. So, can I just pay that CC off with one of my 0% APR?
Why 6 months?

And I pay off my CC debts every month in full, so never incur any of these penalties. It’s just this month I’m foreseeing having troubles.

richmama answers:

Sure you ‘can’, but that did not magically make your financial situation any better, nor pay down the debt that you incurred, just hid it someplace else. Not much of an advantage to getting ‘cash back’ if you are paying 17% on the outstanding balance?!? Unless you are getting back more each month then you are paying in interest then it is a waste to have that card.

Steven asks…

how do you pay off a credit card with another credit card?

I want to pay off one of my cards with another credit card so I can consolidate everything to the card with the lowest interest and so I don’t have to pay a monthly balance for two cards. When I click Make a Payment, it asks for checking account information like bank account number, routing number etc. but I don’t want to pay by checking. How can I do this?

richmama answers:

Call up the credit card company you are going to be transferring your balance to and ask them for some checks to do this. Or, they may have another way that they make this convenient. Just be careful by putting the other balance over on the card, that you aren’t going to be getting over 50% of the available limit on your card. That may trigger them to jack up the interest or minimum payment.

Mandy asks…

Can you pay off a credit card with ANOTHER credit card?

Can you pay off a credit card with ANOTHER credit card?

richmama answers:

It’s usually called a Balance transfer and if you’re a good customer with a decent credit score the credit card companies will often have lower APRs for the transfered balances. Sometimes a Balance transfer fee is applied as well.

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