Can I use one credit-card to pay another?

[DouglaBryan]

Ok, this will probably sound stupid but indulge me....

Lets say that I have a PC Mastercard (because apparently I'm a cheapskate) that I use to buy everything absolutely everything with. If I were to apply for a Citi Enrich Mastercard could I then use it to pay my PC Mastercard bill and collect the Enrich rebate in addition to the PC Points?

[nfuz]

You can use any CreditCard1 to buy stuff and earn points, use can use Any CreditCard2 to pay off creditcard1, but this will never get you any sort of points on CreditCard2.

Why? The way you pay with CreditCard2>1 is called a cash advance/balance transfer, and those don't ever give points/rewards out, AND usually cost you an additional 1-2% fee to pay off.

[angel_wing0]

4 words: "DO NOT DO IT".

[blizzah]

Ok, this will probably sound stupid but indulge me....

Lets say that I have a PC Mastercard (because apparently I'm a cheapskate) that I use to buy everything absolutely everything with. If I were to apply for a Citi Enrich Mastercard could I then use it to pay my PC Mastercard bill and collect the Enrich rebate in addition to the PC Points?

If that were possible, wouldnt everyone have like 15 credit cards and do a huge cycle, and get every possible reward there was?

So no, you can not get both rewards. Yes, you can pay it off, and probably pay a penalty/fee for doing so.

[angel_wing0]

If that were possible, wouldnt everyone have like 15 credit cards and do a huge cycle, and get every possible reward there was?

..and basically never have to pay off the bill too if they have enough cc to circulate the debt

[Jucius Maximus]

1. You will (almost) never get points or benefits on the second card for doing this.

2. However, it is feasible as long as the two cards are from different banks.

3. Regardless, this is a highly unadvisable course of action because surfing debt from one card to another is extremely risky if you are carrying balances on all of them. Some people do it to make their minimum payments. But that is really a symptom that their cashflow is negative. In this case, surfing debt on credit cards will only dig you into a deeper hole.

[DouglaBryan]

Ya...I didn't really think that it could be done but it never hurts to ask. So now I'm confused, when I pay a bill or buy something online is that also a money transfer?

[angel_wing0]

Ya...I didn't really think that it could be done but it never hurts to ask. So now I'm confused, when I pay a bill or buy something online is that also a money transfer?

the word u are looking for is BALANCE transfer.

And no it's not a balance transfer when u pay a bill or buy something online.

[Newbieinvestor]

..and basically never have to pay off the bill too if they have enough cc to circulate the debt

Please explain how this works....

[spf1971]

Please explain how this works....

You would use keep transferring the debt from one credit card to the next. Every 30 days or so (based on grace periods) you would transfer to a new card before interest kicked in. Of course this is not possible to do.

[dog_mumu]

the word u are looking for is BALANCE transfer.

And no it's not a balance transfer when u pay a bill or buy something online.

Actually, online bill payments are balance transfers. What I mean by online bill payments is you log in to your online banking, and do the transfer from there.

However, when you buy things online (without having to log in to you bank account) that is definitely a purchase and not a balance transfer.

Also, if you set up bill payments using you CC by contacting the actual company you want to pay to, then it is considered a purchase, not a balance transfer.

[DouglaBryan]

Great info, thanks!

[Newbieinvestor]

Of course this is not possible to do.

That's why I asked.

You never know....

If Wall Street can package subprime mortgage debt, perhaps anything can happen.