Paying one credit card with another...

Cavallino

Cavallino

Cavallino

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Not a balance transfer per se, but say if one has overpaid one of his credit cards (and is now in credit) but has an outstanding balance on the other, can you pay off some of the outstanding balance with the credit on the first credit card?

(Hope that made sense!)
 
I don't think to can pay off credit with credit (the other card issuers won't care that the card you are paying with holds a positive balance), other than in a balance transfer.
 
How quick do you need this doing? You could probably do it through Paypal quite easily.
 
No not urgent or anything. I just overpaid into one credit card account and have an overall credit balance in there whereas I underpaid onto another account and still have a debit balance, so I just wondered if I could balance one with the other since I have a balance credit on the first credit card.
No biggie just wondering.
 
Do you have paypal? you should be able to add funds to your paypal account with one card and then withdraw funds to the other card. I don't think (but check) that you will incur paypal charges for this but you might get a cash advance charge on the credit card. Again, not sure.

Or for an easy life, buy a tank of petrol on the card that you have overpaid, then make a payment on the other credit card using the funds that you will now not need because you have petrol.
 
mame said:
Do you have paypal? you should be able to add funds to your paypal account with one card and then withdraw funds to the other card. I don't think (but check) that you will incur paypal charges for this but you might get a cash advance charge on the credit card. Again, not sure.
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You'll get a cash advance fee for any transaction with Paypal which isn't a purchase.
 
Cavallino said:
Sorry explain again? I didnt get that.
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Well petrol was just one example. You have one credit card in credit? a +balance. And one credit card that needs a payment to be made. Instead of using your debit card/current account to fund the petrol, pay for it using the overpaid card. With the money you have 'saved' from your current account, pay the 2nd cards' payment.
 
mame said:
Well petrol was just one example. You have one credit card in credit? a +balance. And one credit card that needs a payment to be made. Instead of using your debit card/current account to fund the petrol, pay for it using the overpaid card. With the money you have 'saved' from your current account, pay the 2nd cards' payment.
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Oh I see what you mean. Well yes thats the idea of course :)
Thanks for clarifying anyway :)
 
weringo said:
You'll get a cash advance fee for any transaction with Paypal which isn't a purchase.
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Not saying that you are wrong, but I used to add funds before I made a Paypal purchase and never got this. Not sure how the CC would know what you did with the money. If you added £50 funds then made 4x£10 purchaes and then withdrew the remaining £10 to you current account, I'm not sure how it would all work.

Or to complicate it further, if you added funds of £50 and then went on to make 6 months of buying and selling transactions with your balance never reaching £0 and then withdrew the remaining £10, how would that work? Who's to say exactly where the £10 came from.
 
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you pay a cash advance payment for the money that you put into paypal though, including crazy % on the advance.

however, that is for cash advance from a card that is not in credit. so not sure what you would be charged, if anything!
 
Morba said:
you pay a cash advance payment for the money that you put into paypal though, including crazy % on the advance.

however, that is for cash advance from a card that is not in credit. so not sure what you would be charged, if anything!
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Pretty damn sure it still would be considered a cash advance irrelevant if the card is in credit or not - effectively even though its in credit, you are still borrowing from the credit card company...

Its happened to me before where Ive moved money into a credit card to pay for currency exchange before using said card - still got charged interest as a cash advance. Never did that again...

ps3ud0 :cool:
 
[TW]Fox;17384430 said:
Just get them to bank transfer the credit amount to your bank account :confused:
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Didnt realise this was possible. Is it?
(The credit card is with a different company to my current account)
 
Seriously how much money are we talking about? If it's several hundred firstly how did that happen? and secondly ring the credit card company and talk through the options for transfering the money to your bank.

If it is a more sensible amount to have over paid £50 or so then just use the credit card for your next purchase and use the money from you bank that would have otherwise paid for the purchase to pay down the other card.

It really isn't rocket science!
 
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