Can you use a credit card for credit card bill payments?

Almost every credit card comes with up to 45 days of an extended grace period. Borrow any amount from the available credit limit and pay off the outstanding due on or before the given due date to avoid interest.

There are various options to pay off an outstanding bill. If you want to make credit card to credit card payment, it is only possible indirectly.

There are various options to pay off an outstanding bill. If you want to make credit card to credit card payment, it is only possible indirectly.

Below are the 3 ways to make credit card to credit card payments

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1. Credit card payment through balance transfer

If you are carrying too much debt on your existing card, you can opt for a balance transfer credit card. Transfer your outstanding amount to the new credit card and make repayment with no hassle.

However, there are certain things to note before you proceed.

• The balance transfer card must come with a comparatively lower rate of interest.
• A balance transfer may slightly affect your credit score.
• It also comes with a fee that is usually 3 – 5% of the transferred amount.
• Ensure that the balance transfer doesn’t cross or take the card utilisation ratio close to the credit limit.

2. Credit card payment through cash

If a balance transfer is not your option, you can make a credit card bill payment with cash.

• Use the credit card you want to make payment with to withdraw the required amount from an ATM.
• Next, deposit the cash in your checking account
• Make the bill payment with the money

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Before considering this option, make sure to evaluate your financial condition as ATM cash withdrawal can cost you huge.

3. Credit card payment through e-wallet

Another convenient option of how to make credit card to credit card payments is through e-wallets.

• Transfer the amount required from your credit card to any e-wallet.
• Pay the outstanding bill using that e-wallet.

Whichever option you choose, a credit card to credit card bill payment signifies another debt that can lead to further financial problems. So, consider other available alternatives available with your credit card.

If you possess the Bajaj Finserv RBL Bank SuperCard, you can opt for multiple payment options including:

• Credit card Payment via NEFT
• Credit card Payment via RBL MyCard App
• Credit card Payment via Bill Desk
• Credit card Payment via Net banking
• Credit card Payment via NACH
• Credit card Payment via Cheque

Additionally, try to figure out the reason for this cash crunch. It is essential to utilise a credit card as per your repayment capability so that you can easily pay off the bill in time. Defaulting on a credit card bill not only brings down the CIBIL score but also incurs heavy interest rates. You can check out how interest rates are calculated and levied on your credit card.

If you find insufficient funds for the total amount due, pay the minimum due amount. While this carries forward the outstanding sum to the next month’s bill, it eliminates the heavy penalty charges.

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