How to pay credit card bills using another credit card – all details here

One of the most important steps when using a credit card is making timely payments of bills. This is an essential tip for a credit cardholder to avoid interest costs and late payment fees. There are several ways to clear your credit card dues, one of which is using another credit card.

It is one of the most convenient ways to pay a credit card bill; however, if not used correctly, it will likely increase your debt.

How to pay credit card bill using another credit card

There are three ways to pay your credit card bills through another card. The ways in which you can use a credit card to pay the bill for another credit card are balance transfer, UPI, and cash advance.

Balance transfer

The outstanding balance of a credit card can be transferred to another credit card to pay your credit card bill. You can pay off the excess balance on your credit card using another credit card. Typically, a credit card with a lower interest rate should be used to make bill payments for another credit card. However, cardholders must note that transferring the balance from one card to another will result in a fee, which might vary from bank to bank.

 Digital wallets

In the evolving financial landscape, digital wallets are commonly used to store finances. These wallets can be used to make most types of payments, including credit card bill payments. You must add money to your digital wallet to pay your credit card bill. You can easily link your credit card to your digital wallet online by entering your card and other necessary details on the bank’s website. Enter the one-time password (OTP), and the bank will send it to your registered mobile number. Once your credit card is linked to your digital wallet, you can add money to your wallet and use it to make credit card bill payments.

Cash advance

Cash advances are another way to make credit card bill payments using another card. You can withdraw money using a credit card to make bill payments. Withdraw up to a cash advance limit set by your bank to make your credit card bill payments. However, withdrawing money through a credit card will result in an ATM withdrawal fee. Hence, this method may become costly for credit card users.

In conclusion, the mode of credit card bill payment depends on the convenience of cardholders. Before using your credit card to make payments for another card keep in mind the credit limit, interest rate and the capacity to repay the dues. You must analyse each mode of credit card bill payments and the related costs to clear your dues.

(Note: Using a credit card carries its own set of risks)