Money is tight, pay one credit card bill with another credit card, try 3 easy ways
Pay one credit card bill with another credit card
Cash Advance can be adopted for payment of credit card bill.
Credit card bill payment can be done through e-wallet load.
New Delhi. Many times it happens that we are short of money. There is no money left in the bank account to pay the credit card bill. In such a situation, the question arises whether we can pay one credit card bill with another credit. The answer is- yes. We can pay one credit card bill from another credit card in certain ways including balance transfer.
Many banks offer the option of Balance Transfer facility on select credit cards. It means allowing transfer of amount spent from one card to another card. For a balance transfer, money is taken from one credit card and sent to another card. For this it is necessary that the credit limit of the other card is more than the amount spent. The bank from whose card you take the money for balance transfer, that bank charges GST and processing fee from you. In this facility, credit card customers again get a buffer period to pay the dues for which they do not have to pay any interest.
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If balance transfer is not an option for you, then you can pay your credit card bill in cash. For this, you can adopt the option of Cash Advance. Cash advance can come in handy in case of emergency but you have to pay a charge on it. In cash advance, you can withdraw money from ATM using your credit card.
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Credit card payment through E-wallets
You can pay the credit card bill through e-wallet. You can put money in e-wallet through credit card and later transfer it to bank account. Then you can pay the credit card bill. This method is a digital version of the previous method of withdrawing money from ATMs. Its advantage is that you do not have to go to the ATM and withdraw cash from the credit card and deposit it in the bank account. In this process also you have to pay the charge according to the e-wallet.
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Tags: credit card, Credit card limit, Loan against credit card
FIRST PUBLISHED : March 22, 2023, 15:06 IST