Paying a credit card with a credit card

tallyhoh

I had a letter this morning about a credit card I had not used for ages. Apparently Mcafee renewed my security with it. As it was an online account & I had changed my email address, the first I knew about this was when I had a letter saying my account was in arrears.

I phoned them & to cut a long story short paid the balance with another credit card.

Now I am wondering, is it actually possible to do this, pay credit cards with another credit card? or am I likely to get another letter.

PoorPrincess

Hi there,

Yes you can do this, have you actioned for the account to be closed now that you have paid it off?

Princess

x

tallyhoh

Hi, Thanks for that. I have asked for it to be closed. I had not even realised it was a totally online account. Cant understand why they had not phoned or sent a letter when I missed the first payment. They seem to do it to everyone on here.
I didnt even know you could pay a credit card with a credit card because I was thinking of the charges etc they make for transfers when (in theory) you could just call & pay one off with another? or am I missing something. Is it classed as cash & will I have to pay cash charges?

SunderlandBlackCat

tallyhoh wrote: »

Hi, Thanks for that. I have asked for it to be closed. I had not even realised it was a totally online account. Cant understand why they had not phoned or sent a letter when I missed the first payment. They seem to do it to everyone on here.
I didnt even know you could pay a credit card with a credit card because I was thinking of the charges etc they make for transfers when (in theory) you could just call & pay one off with another? or am I missing something. Is it classed as cash & will I have to pay cash charges?

Depends on the card. Unfortuantely the cards I did it with pre LBM were the ones that charged a fee for it. They also usually have a much higher APR for cash than purchases or balance transfers & interest is usually payable from day 1 even if everything else has an interest free period.

SunderlandBlackCat

Alx_B wrote: »

It sounds pretty much like the definition of a BT to me, so I'd imagine it will be charged as one. *shrug*

Afraid not - for it to count as a balance transfer you would heve to phone the company you're transferring the balance to & get them to transfer it.

If you phone the company who you owe the balance to & then give them the details of another credit card to pay with it goes through as a cash advance.