whats the best way to pay a private person using a cc?

ronniecoleman

Im trying to transfer money to somebody from my capital one card, but cant find any method online of doing this. I was hoping for something similar to a bacs which i do through my normal barclays account.
Currently all i can think of is
a. use paypal, but this will mean the recipicant gets charged.
b. cash withdrawal of the money, which will cost me a lot.

exel1966

Other cards permit money transfers direct from card to a bank account, Capital One does not, therefore you're stuck with the methods you've already mentioned.

skyrider007

As above or CC cheque. There will be a fee of around 3% for both super balance transfer to current account and credit card cheque.

NickX

Personally i would enquire as to whether the recipient of the funds has some large purchases to make in the future. If so, then use your Credit Card to make this purchase thereby transferring money to them without incurring a fee.

Otherwise take out an SBT (Super Balance Transfer) card such as Egg or one run by MBNA.

Good Luck and best wishes for 2009.

LongTermLurker

NickX wrote: »

Personally i would enquire as to whether the recipient of the funds has some large purchases to make in the future. If so, then us your Credit Card to make this purchase thereby transferring money to them without incurring a fee.

...and if your Capital One card pays cashback, then you win there too

(and Happy New Year to you, too, Nick :beer:)

NickX

:beer:

LongTermLurker wrote: »

...and if your Capital One card pays cashback, then you win there too

Lol, you know my local pub don't you LongTermLurker ???

All the best (and profit) for 2009.