Paying credit card with another credit card?

hjc08

I have a Debenhams Mastercard and have just opened an American Express Platinum cashback credit card. I only use the mastercard for very occasional purchases and usually pay my balance (which is never more than £100) every month online by debit card. I was wondering if it's possible to pay using my Amex card insetad and if it will qualify for cashback? Would this be the same as a balance transfer as I don't want to incur charges for doing it? I've also read that it can affect your credit report, is this true?

Any

No, what you are suggesting is called balance transfer, carries a fee up to 3% and no, you don't get cashback.

CarineG

I was just going to ask the same question.
So I can pay off my monthly Barclaycard balance with my Virgin Credit Card but it will cost me the transfer fee?

Also, does anyone know if I cancel one of my credit cards i.e. close the account), how long do I have to wait to re-apply for another one and therefore increasing the number of credit card suppliers I could use?

Mr.Mulla

What you want to do is a balance transfer and there are charges to that depending on your bank and there are no cashback on that.

Credit scores are determined by a lot of factors, but one of the most important factors is the "percentage of available credit". The higher this percentage is, the higher your score can be. So if you do transfer balances, make sure you don't close any old cards and that you don't USE the old cards either because that will affect your credit score.

Any

CarineG wrote: »

I was just going to ask the same question.
So I can pay off my monthly Barclaycard balance with my Virgin Credit Card but it will cost me the transfer fee??

Yes, but call it Balance tranfer.

CarineG wrote: »

Also, does anyone know if I cancel one of my credit cards i.e. close the account), how long do I have to wait to re-apply for another one and therefore increasing the number of credit card suppliers I could use?

Depends on the bank. Some have 6 mths, some 12.