topic Re: Paying a credit card with a credit card. in Credit Cards

Paying a credit card with a credit card.

Anonymous — Mon, 14 Mar 2016 22:39:49 GMT

So my new Venture & Venture1 came in the mail today. I think I just had a brilliant idea. This month I owe $3,300 to my credit union on my credit union card. I Have an option to pay the card with a card. Is there any possibility that Capital One could flag this or not allow me to use this for my bonus? This just seems way too easy. I feel like I'm going to get in trouble lol. I am new to this Credit Union and have never had a card that allows you to pay with a card. Do you guys have any cards like this?

Re: Paying a credit card with a credit card.

redpat — Mon, 14 Mar 2016 22:48:11 GMT

This would be called a balance transfer and I isn't included in reward spend.

Re: Paying a credit card with a credit card.

Anonymous — Mon, 14 Mar 2016 22:51:02 GMT

I thought a balance transfer would have to be registered in their computer? And they send a check?

Re: Paying a credit card with a credit card.

Anonymous — Mon, 14 Mar 2016 22:52:41 GMT

Any other card I've seen, they don't allow an option to pay with a card. Only ACH transfer. That's why I thought this was different

Re: Paying a credit card with a credit card.

j615 — Mon, 14 Mar 2016 22:55:06 GMT

I think I've heard of some banks allowing you to pay your credit card account with a debit card, though I can't confirm.

Either way, I'd personally be too chicken to pay a credit card with another credit card.

Re: Paying a credit card with a credit card.

Anonymous — Mon, 14 Mar 2016 22:54:59 GMT

@redpat wrote:
This would be called a balance transfer and I isn't included in reward spend.

+1 to redpat's comment. It would be a balance transfer and would definitely not be included in reward spend.

Re: Paying a credit card with a credit card.

Anonymous — Mon, 14 Mar 2016 22:56:31 GMT

i say try it. where i work you can establish membership with a credit card and meet the spend bonus that way. it does not appear as cash advance it shows and a point of sale transaction. you may want to determine how the CU codes it

Re: Paying a credit card with a credit card.

Anonymous — Tue, 15 Mar 2016 20:30:23 GMT

Thanks. I now know they DO NOT code it as a cash advance. They code it as a purchase. I'm in luck. Paid $500 yesterday with another card. Sweet!

Re: Paying a credit card with a credit card.

Anonymous — Tue, 15 Mar 2016 20:33:34 GMT

The credit union's website is a bit outdated. The payments post through one box for my auto loans, PLOC, CC, any other thing. That's probably why. They don't even allow ACH transfers, unless it's from their accounts.

Re: Paying a credit card with a credit card.

Anonymous — Tue, 15 Mar 2016 21:18:05 GMT

well that's awesome lol. good job on meeting spend. looks like the word "definitely" shouldn't be tossed around so casually.

Re: Paying a credit card with a credit card.

Anonymous — Tue, 15 Mar 2016 21:31:35 GMT

@Anonymous wrote:
well that's awesome lol. good job on meeting spend. looks like the word "definitely" shouldn't be tossed around so casually.

You're right. Sometimes we speak in absolutes when we shouldn't but humu and redpat were right to assume that it would be considered as a cash withdrawal because 99% of the time it would. This is the first time that I've heard of someone being allowed to pay a credit card bill with another credit card.

Re: Paying a credit card with a credit card.

Anonymous — Tue, 15 Mar 2016 21:41:34 GMT

yeah true, but most places don't give you a true spot for credit card numbers which is why i mentioned what i mentioned about being able to establish membership with a CC and it being coded as a purchase

Re: Paying a credit card with a credit card.

Anonymous — Tue, 15 Mar 2016 21:52:50 GMT

Agreed, Irish. I'm also not too sure that if the lender finds out you are paying a credit card with a credit card, that it wouldn't throw up a red flag of them wondering if something of concern was taking place (i.e., concern of you not having cash to pay the bill).

There are also certain "grey" areas of spend that have raised a flag before with a lender if a member tries to use those areas to meet spend, so that may be a concern. Just some things to consider.

Another thought would be that paying credit cards with credit cards results in further debt, unless you are disciplined enough to pay it down.

Like Irish, I've not heard of this before. My credit union wouldn't alllow it, and I wouldn't do it if they did. But best of luck to you and hope it all works out.

Re: Paying a credit card with a credit card.

FinStar — Tue, 15 Mar 2016 22:31:00 GMT

@Anonymous wrote:
well that's awesome lol. good job on meeting spend. looks like the word "definitely" shouldn't be tossed around so casually.

Agree, and to Irish's point, I'm aware of other CU's (very obscure ones at that) which allow this feature - both on the Debit and Credit side for payments. That being said, not a standard feature for most banks even top CUs nationwide. For instance there's a variety of CUs, even local ones, that allow or offer BT pomotions that count toward reward. Alliant CU is one of them, for example. Of course, the rewards aren't going to be "stellar" per se (depending on the BT $) when compared to peer CCs but the fact that most CUs do not incur BT fees and you can still earn rewards is not a bad option.

Re: Paying a credit card with a credit card.

Anonymous — Tue, 15 Mar 2016 22:51:26 GMT

@FinStar wrote:
@Anonymous wrote:
well that's awesome lol. good job on meeting spend. looks like the word "definitely" shouldn't be tossed around so casually.
Agree, and to Irish's point, I'm aware of other CU's (very obscure ones at that) which allow this feature - both on the Debit and Credit side for payments. That being said, not a standard feature for most banks even top CUs nationwide. For instance there's a variety of CUs, even local ones, that allow or offer BT pomotions that count toward reward. Alliant CU is one of them, for example. Of course, the rewards aren't going to be "stellar" per se (depending on the BT $) when compared to peer CCs but the fact that most CUs do not incur BT fees and you can still earn rewards is not a bad option.

Don't argue with me! Thanks for the info. Wasn't aware there were CUs out there that do this.

Re: Paying a credit card with a credit card.

FinStar — Tue, 15 Mar 2016 22:53:47 GMT

@Anonymous wrote:
@FinStar wrote:
@Anonymous wrote:
well that's awesome lol. good job on meeting spend. looks like the word "definitely" shouldn't be tossed around so casually.
Agree, and to Irish's point, I'm aware of other CU's (very obscure ones at that) which allow this feature - both on the Debit and Credit side for payments. That being said, not a standard feature for most banks even top CUs nationwide. For instance there's a variety of CUs, even local ones, that allow or offer BT pomotions that count toward reward. Alliant CU is one of them, for example. Of course, the rewards aren't going to be "stellar" per se (depending on the BT $) when compared to peer CCs but the fact that most CUs do not incur BT fees and you can still earn rewards is not a bad option.
Don't argue with me! Thanks for the info. Wasn't aware there were CUs out there that do this.

LOL. I went on a major CU research phase over the good part of a year or so (ending sometime last year with the UNFCU approval) and that's where it opened my eyes with some of them as far membership, rewards and somewhat unorthodox features. At the end of the day Irish is right though

Re: Paying a credit card with a credit card.

Anonymous — Tue, 15 Mar 2016 22:58:47 GMT

@FinStar wrote:
@Anonymous wrote:
@FinStar wrote:
@Anonymous wrote:
well that's awesome lol. good job on meeting spend. looks like the word "definitely" shouldn't be tossed around so casually.
Agree, and to Irish's point, I'm aware of other CU's (very obscure ones at that) which allow this feature - both on the Debit and Credit side for payments. That being said, not a standard feature for most banks even top CUs nationwide. For instance there's a variety of CUs, even local ones, that allow or offer BT pomotions that count toward reward. Alliant CU is one of them, for example. Of course, the rewards aren't going to be "stellar" per se (depending on the BT $) when compared to peer CCs but the fact that most CUs do not incur BT fees and you can still earn rewards is not a bad option.
Don't argue with me! Thanks for the info. Wasn't aware there were CUs out there that do this.
LOL. I went on a major CU research phase over the good part of a year or so (ending sometime last year with the UNFCU approval) and that's where it opened my eyes with some of them as far membership, rewards and somewhat unorthodox features. At the end of the day Irish is right though

Much better

Re: Paying a credit card with a credit card.

Anonymous — Tue, 15 Mar 2016 23:07:52 GMT

lol. i didn't know it said that without the bigger font.

Met Spend Bonuses in 2 minutes. It worked!

Anonymous — Sat, 19 Mar 2016 19:42:35 GMT

The other day I posted about my credit union allowing you to pay your credit card with a credit card. Paid $3000 on Venture and $1020 on Venture One. Many people were skeptical thinking it would be considered a balance transfer. Capital One added the points and sent me a congratulations email. Whoop whoop. That was easy. $600 thanks Cap1.

Re: Paying a credit card with a credit card.

Anonymous — Sun, 20 Mar 2016 20:40:55 GMT

@Anonymous wrote:
@Anonymous wrote:
well that's awesome lol. good job on meeting spend. looks like the word "definitely" shouldn't be tossed around so casually.
You're right. Sometimes we speak in absolutes when we shouldn't but humu and redpat were right to assume that it would be considered as a cash withdrawal because 99% of the time it would. This is the first time that I've heard of someone being allowed to pay a credit card bill with another credit card.

Just in case it really is "Argue with Irish day": they may have assumed based on what they know, but it was in fact wrong, and the use of "definite" black and white language was misplaced. We saw this recently with person getting an over-the limit loan on his Chase card, nearly everyone predicting total disaster and it fact it was a great deal. So bottom line: if you don't actually KNOW for certain, moderate your language more to "I expect" rather than "Definitely". The credit space is much more complex!