Can I avoid balance transfer fees by paying a credit card bill off with another card?

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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Postby whit » Thu Mar 19, 2015 10:34 pm

If you really want to you can with a bit of creativity

Take a brand like mansur graviel (which just restocked this afternoon but may be already sold out and you're limited to one) and use your card to buy it..on the zero percent.

Sell it and than use that cash to pay the other card

That's the only way you'll truly avoid BT fees--maybe even make a bit of money depending on the item and the holding period (other more mainstream brands have price hikes and also limited availability that can drive up the price)

Unless you apply for the slate from chase and transfer within 60 days of opening card

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Re: Can I avoid balance transfer fees by paying a credit card bill off with another card?

Postby Kevin86475391 » Sat Jun 27, 2015 1:07 am

knw311 wrote:I have one card with a 6% interest rate and a high credit limit and another card with a 24% rate that I'm concentrating on paying off first.

I was going to pay as much of the 24% balance as possible down this month and then transfer the rest to the 6% card, but it occurred to me if I just paid the 24% card balance off as a bill pay, using the 6% card, I would avoid the transfer fee.

I'm wondering whether that will work (i.e., will the credit card company know I'm using another credit card and add the transfer fee) and also how that would affect my credit.

I think it is pretty tough to pay a credit card directly with another one, BUT unfortunately I'm pretty sure if they do offer that option it's going to be treated like a CASH ADVANCE, which you definitely don't want to do. Cash advance fees and rates are usually worse than purchase and balance transfer fees and rates, and often quite a bit worse.

FYI, to my understanding that's usually how credit card companies treat those 'checks' they might send you along with your statement. You're usually free to use them for pretty much anything, including depositing money directly into your bank account, but as far as I know they're usually treated like cash advances against the card and almost never worth it.

I think some companies may occasionally send promotional balance transfer checks to encourage you to do a balance transfer, but yeah in that case they would of course be treated as a balance transfer (still much better than a cash advance!).

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Postby Vermonster » Sun Jun 28, 2015 9:25 am

CarefulBuilder14 wrote:I've read...somewhere...that you can put money onto an Amex Serve and earn purchase-like rewards, then use the Serve to pay credit card bills.

You can put money on the Serve from any Amex credit card. But you pay the cash advance fees and interest. I have not used serve to pay off any cards yet, but it does look super easy to pay off an Amex, and a little more difficult to pay off anything else.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

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