Is it illegal to pay one credit card with another?

If you’re looking to pay off one credit balance using another card, this generally isn’t possible. Banks don’t allow you to pay your credit card balance using another credit card. Typically, payments via check, electronic bank transfer or money order are the only acceptable methods of payment.

Does paying off one credit card with another hurt your credit?

Payment History Transferring a balance from one credit card to another will have no effect on this part of your score unless you stop making payments after you move the debt. Making payments on time after the transfer can help offset any other negative effects you may experience.

Can you pay your credit card bill with another credit card?

This is another way of paying one credit card’s bill through another. You could transfer your balance to another credit card and pay the bills on your other credit card. Not only this, the interest rate of the other credit card would be lower than the former.

Is it better to pay off one credit card with another?

As long as you are aware of the terms and conditions and you manage your account well, transferring your credit card balance to a lower interest account can work to your advantage. A lower interest rate usually means lower minimum monthly payments, and less money spent on interest enables you to pay down your debt faster.

Can a credit card balance be transferred to another credit card?

While the short answer is “yes,” there’s another question you should ask yourself: “Why should I?” In some cases, moving a credit card balance onto another card (known as a balance transfer) makes good financial sense, because it can simplify your payments and may help you save on interest charges.

Do you have to pay interest on credit card balance?

You use the card as you normally would, but you won’t pay any interest on your balance during the introductory period. You’ll still have to make a minimum monthly payment, but it all goes to the principal balance, not interest.