Can i pay off my 1 credit card with another?

Question

i have a small bill just got my 2 credit cards at the same time

my capitalone card has a min pay of 15.00 but for august 12 due date but i received it the 15th and didnt know about it i got them to take of the late fee but i need to pay the minimum still my bank of america card is free atm could i use it to pay off my capitalone card till i get paid thursday?

Answer 1

Short of a balance transfer you cannot.

Answer 2

yes you can balance transfer or pay a portion with another card.  

Answer 3

if your BofA card is debit yes you should be able to pay a credit card with it, but you cannot pay credit with credit unless you pull out cash from one and pay with the cash but usually there is a high fee for pulling cash from a credit card

Answer 4

Yes is the short answer.  But whether you should or not is another answer.  For instance if you have a balance on a card that has a 25% interest rate and you see an add for a new card that you can qualify for that has an introductory rate of 10% interest for a year and then 19% interest after that ( just making up random numbers).  Then when you first open the new card you can asked to transfer the balance from thehigherr interest rate card to your new card.  However make sure you ask the credit card company if your new introductory offer will apply to your transfer.  Hope it all works out for you and make sure you look for the best deals and ask all the questions up front.  Also make sure you don't have anannuall fee for having the card.  Just something to think about.  

Answer 5

You can do a balance transfer, which takes the balance you have on one card and puts it on a nother. That will buy you time, but it also takes some time.

Answer 6

No, generally credit cards have to be paid off with a money order or via a bank account transfer.

Answer 7

yes makes sense

Answer 8

robbing peter to pay paul, oh Lord how we worship the debt gods.

I've been there and done that!!

here is the real way to do it. Stop using credit cards. Period.

Follow some Steps to get out of and stay out of debt.

0.1: Commit to NEVER borrow $$$ EVER for ANYTHING other than possibly a house.

0.2: Talk with spouse and get him/her on the same page as you concerning finances.

0.3 Do a written budget

0.4 Temporarily stop all retirement contributions

0.5 Get current on all the basics (You MUST have Shelter, Food, Utilities, Basic clothing)

0.6 Amputate "toys" (bikes, boats, ATV's etc) if they will keep you from completing the snowball within 12 months

0.7 Cut lifestyle (Cut CATV, Cellphone, Regular phone "extra's", Internet, Eating out, etc) and/or take second job if $1000 EF will take more than 30-90 days. (depending on income)

0.8 Get current on ALL bills

1.0 Save $1000 In baby EF

1.1 Chop up CC's (You have an EF now, no NEED to keep those CC's !!)

1.2 Get Health insurance NOW (chances of getting sick w/ major medical bills are larger than that of death), especially if you have children.

1.3 Get Life insurance NOW if you have considerable debt/your family couldn't make it financially if you died. Especially important if you have children !! Social Insecurity provides only a small amount of coverage if you have dependents.

1.4 Amputate cars that you can't pay off within 24 months (You have an EF to fix the "bondo buggy" if something should happen)

1.5 Consider raising insurance deductables to $500 or $1000 and dropping full coverage on paid for "bondo buggy" (You have an EF ya know)

2.0 Do debt snowball, paying all your debts from lowest BALANCE to highest.

2.1: You can take your first vacation since finding Dave if you can pay cash for it (no using the EF !!!)

3.0 Save 3-6 months EXPENSES in EF

3.1 Start car replacement fund

3.2 Save up 20% for home purchase OR pay down existing mortgage to the point you can drop PMI.

3.3 Start furniture or other non-essential stuff replacement fund

3.4 Move up in car if you still feel the need to (must pay cash for it)

4.0 Start contributing 15% of your paycheck to retirement.

5.0 Save for kids college fund

6.0 Pay off house early

7.0 Live like no one else since you have lived like no one else (investment ideas at this stage greatly appreciated, Dave doesn't go into too much detail on this stage)  

Answer 9

You can use one credit card to pay off another - this is called a balance transfer.  You should call the credit card company that you want to TRANSFER THE BALANCE TO (Bank of America), give them the information from the Capital One card, and ask them to make the balance transfer from the Capital One card to theirs.  

One thing though, you mention that your Bank of America card is a FREE ATM card.  If this is a DEBIT card you should check with Bank of America to see if they will allow balance transfers, since all monies charged to debit cards come right out of your bank account.