inai Rep Points:
955
Posted on
April 2, 2009
at
6:01 am
Having credit cards have its advantages. When you run short of cash we turn to this plastic money to shop instead. But what happen if you exceed your limit and do not have cash to pay off the your credit card. Do you make use of your other card like mastercard to withdraw money to pay your visa card? Can this save you from penalty charges charged by the credit card company?
Posted on
April 2, 2009
at
7:44 am
Well that's the last resort but the interest of Mastercard debit is high. It's still better to calculate your expenses first before you use your credit card..
Posted on
April 2, 2009
at
11:22 am
well it is helpful only when u have 0 apr on balance transfers for the credit card u have..if not its a waste..
Posted on
April 2, 2009
at
2:11 pm
I don't recommend doing this because when you withdraw money from a credit card you get a higher interest rate... not to mention that you now still have credit debt because you used a credit card to pay off another credit card. How will you pay off the credit debt? You simply transferred the debt to another credit card and if you don't pay if off by the month then your interest will cause the debt to become even higher.
Posted on
April 2, 2009
at
2:29 pm
This might not be the best advice but maybe you could get a payday loan instead, the interest would be a lot less and you would have less time to pay it off but than you would save by not running up the other credit card. Either way is not good but if you feel it would get you out of a bind than I would do the payday loan option at least for me.
Posted on
April 2, 2009
at
2:55 pm
I checked my cards to see what the policy was, but it seems that if I use it to get cash, there is an increase in the interest rate so I think in my case I wouldn't be saving anything.
chez Rep Points:
285
Posted on
April 6, 2009
at
7:56 am
Using 1 credit card to pay out the debts in another credit is like jumping from the frying pan to the fire. The interest alone is very high. To avoid this, lessen your credit card spending if not avoid it altogether. Spend only what you can afford.
Posted on
April 6, 2009
at
8:12 am
Well you know you are just transfering yout debt from one card to the other. does not help at all.
Posted on
April 9, 2009
at
12:11 pm
this is a weird situation . but i dont think this thing will help you in the long run
