monty
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You actually can. Some of my foolish friends will borrow against their credit cards to pay their maturing debts. But, this is definitely a ridiculous scheme of releasing financial pressures ! It's like digging one hole to fill another hole.
What you ought to do is to increase your income and not to be focused in borrowing money to get by in life. Check your expenses. Discard the habit of buying ' what you want ' instead of buying only ' what you need '. Be practical in life. Then, start saving up for future. |
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Country Girl
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certainly, if the interest rate on the second card is lower! |
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cowboybabeeup
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Sure, and use one with a lower interest rate...Credit card companies come up with deals like this all the time, just be sure to read the fine print. |
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Gary D
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Yes, that's called a partial "Balance Transfer" and you pay higher transaction fee for that unless the credit card company gives you a promotional discount to do it. |
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mavee
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Yes. This is called balance transfer. IT IS USUALLY DONE when you want to avoid high interest rates and the other card offers lower or no interest until a certain date.T his is usually promotional and you better read the "fine print". |
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ann
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Call customer service and ask if they have any transfer offers at a special rate. That is how I managed to pay off $10,000 in credit card debt. I moved everything to a card with a zero interest rate offer (for 6months), and then did it again after the 6 months to a second card, but that time I only got 4 percent interest. You have to pay it off or lose the rate if you fall behind. There is a transfer fee to pay. |
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dede
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as long as the credit card co that you are paying allows it and it is called a partial BT |
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pappy
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Yes, but it's not a very smart thing to do. you only get into deeper trouble no matter what the different interest is since credit card interest is high anyway and credit card dept is the worst kind of debt to have. Find another way to pay off the card if thats what your looking to do. |
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kybunny333
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absolutely thats what you call balance transfer,but u make sure the cc u use to pay off another cc has a lower interest or 0% APR for 12 mos |
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whizzbangdood
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Yes it is allowable but its not very smart |
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sandman
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It's called a balance transfer... |
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oldschooljm78
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Yes. Its called a balance transfer. These often have very HIGH intrestrates if not paid off in a few months. Usually have low rate to begin then takes a huge jump. Don't do it unless you will be able to pay it off in a month or two. |
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Inspectorâ„¢
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yes you can............
"rob peter to pay paul" or better known as "balance transfer"
good luck !!! |
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