Ingenius loophole for all credit cards

gidon

i may be wrong, and feel free to tell me so but if you have two different credit cards and you have no disposible income at the moment and you have a credit card bill on one card for say £800 can you not pay off that bill with the second card, then when that bill comes pay the second card with the first one. doing this every month will surely put off paying the bill and save on paying interest until you have the cash to pay the bill.

thoughts please?

gidon

mm66

you cant pay off credit card bills via a credit card. billpayment is only via debit cards or bank accounts.

if you you could pay credit cards via credit cards!!

adm_4

Can you pay CC bills with other CCs? I've never tried.

newmum1

i always thought that u couldnt pay off credit with credit.........

gidon

on my MBNA statement is says, and I quote... "Telephone Banking; To use a home banking service with your bank you will need: (1) Your credit card number. (2) our sort code. (3) our account number."

it says it there, surely or not?

adm_4

gidon wrote:

on my MBNA statement is says, and I quote... "Telephone Banking; To use a home banking service with your bank you will need: (1) Your credit card number. (2) our sort code. (3) our account number."

it says it there, surely or not?

This is for the CC being paid off though.

gidon

yeh, for my MBNA card it says i can use my credit card

bethyblue612

IF you had two credit cards, neither of which charged a BT fee, you could save yourself some interest (possibly!), by transferring the balances backwards and forwards BUT whilst purchases are interest-free as long as you pay the full amount by the the statement date, BT's attract interest from the day they are made.

Nationwide USED to not charge interest on BT's as long as they were paid in full by the statement date, but, unfortunately, they closed this loophole about two months after I discovered it!!

gidon

im with you,

cheers

King_Of_Fools

You cannot make a credit card payment to pay off another credit card.

You can make a balance transfer between credit cards but that will probably involve a 2% fee and being charged interest from the day of the transfer so will cost a lot of money!

Anwen_2

gidon wrote:

on my MBNA statement is says, and I quote... "Telephone Banking; To use a home banking service with your bank you will need: (1) Your credit card number. (2) our sort code. (3) our account number."

it says it there, surely or not?

Er, no... (1) refers to the MBNA card number! So, you would tell YOUR bank to send money from your current account to MBNA's account (with the sort code and account number) and the reference would be your CC number, which would tell them which card the payment is for!