Monday, December 12, 2011

How can I use a credit card to pay a credit card?

I have a 0% interest card that is about to expire. I got a new 0% interest credit card. I would like to "pay off' the old card with the new card. I'm wondering if that is a possiblity because I would like to avoid balance transfer fees.|||You will probably have to pay the fees. That is one of those hidden fees that they don't tell you about. An exception could be if they are sending you checks that you write in the amount and the recipient. A few of those will advertise that they are fee free, but be sure you understand all the terms before you use them.|||either draw cash( expensive) or ask for a cheque and then make it out to other cc co.|||Sorry, but you will have to pay the balance transfer fee. Even getting the checks and using them to pay the other balance will incur a charge. Credit card companies have gotten wise to the rotating use of cards this way which is why they now all have the 2 or 3% balance transfer fee which still saves you money on the interest when going to a 0% card.





The one drawback is that when the credit companies start seeing this card hopping, they will no longer send you the 0% offers.

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