Suppose you really have high-desire balances on one otherwise multiple handmade cards and you are looking to consolidate from the a lesser Annual percentage rate. You might be thinking about, “Can you pay a charge card that have various other mastercard?” In a nutshell – yes, you can spend credit cards regarding which have various other charge card, there is certainly more than one solution to exercise. Although not, for each and every method is sold with a unique positives and negatives.

How-to shell out a charge card bill that have other mastercard

If you are looking to pay a credit card which have various other borrowing card, there are two an approach to do it: a balance import otherwise a cash loan. If you find yourself one another would be choices to believe inside a-pinch, there are several crucial distinctions that are critical to an understanding in advance of moving on with often.

Why does an advance loan functions?

A cash loan is often the most high-priced solution. With a cash advance, your cure money from the charge card, the same as how you would within an atm. It is then your duty in order to deposit that money on your bank membership to pay off your own credit card.

Higher fees and higher rates commonly go with cash advances. You’ll want to just remember that , attract constantly starts racking up the fresh new day your get rid of the dollars. Read More