NFCU - Using Rewards Card to pay CLOC

[Anonymous]

If I use my NFCU Rewards card to pay my NFCU CLOC, would that be considered a cash withdraw, meaning a cash withdraw fee?

It is all set up in their system to allow payments using the credit card.

Thanks

[UpperNwGuy]

I doubt NFCU would allow you to do that.  They want to see debt paid down, not shifted around.

[K-in-Boston]

The option is there to be able to pay using other lending products, but generally speaking it's usually not a good idea to use an account from a lender to pay another account like that. If the transfer goes through, it would almost certainly be treated as a cash advance.

[Anonymous]

How did you add a credit card as a payment option? The only options I have are to pay from my NFCU checking, savings or an external financial institution with one of these (checking/savings). I do not see the option to add a credit card to pay with.

[Anonymous]

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@Anonymous wrote:
How did you add a credit card as a payment option? The only options I have are to pay from my NFCU checking, savings or an external financial institution with one of these (checking/savings). I do not see the option to add a credit card to pay with.

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 That is a very good question. I don't think it is possible.

[K-in-Boston]

I thought this was an option. I can make a transfer from my Flagship Rewards to external checking, NFCU checking and multiple share accounts, but at least on the app CLOC is grayed out. (Although that may be because there is a zero balance?)

[Anonymous]

Well, I went and tried it and it is a Cash Advance and it only allows the available Cash Advance available.

[CreditInspired]

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@Anonymous wrote:

If I use my NFCU Rewards card to pay my NFCU CLOC, would that be considered a cash withdraw, meaning a cash withdraw fee?

It is all set up in their system to allow payments using the credit card.

Thanks

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If NFCU allow it, I think it would be considered a CA. But like others have said, a creditor wants to see that a borrower is paying their balances down, not just shuffling outstanding balances around, and especially with the creditor's own money. It's really akin to borrowing from Peter to pay Paul. IMHO, I think you may be able to get away with doing this 1 or 2 times, but I think once NFCU gets wind that the debt is being shuffled around instead of being paid down, there could possibly be an AA -- a decrease in your available cash advance balance.