hi guys,

the mrs and I have a $1000 credit card we use for bills that require CC's, or for the odd online purchases etc.

normally we pay this off straight away. however I have cash sitting in a savings deposit, earning interest, and instead of using it, could I theoretically use our other card (45 days interest free from end of statement) that we never use, to get even more interest free days, THEN pay it?

or do credit card-credit card payments not get treated like a normal purchase?

thanks :)

It will be treated as a cash advance which start collecting interest (usually higher) from second 1 rather than day 45.

afaik you can't pay credit with credit in australia

nfi if it's physically possible or not, but that's the line I used to tell people when I was in collections

hehe ok, thanks for that guys

thought it sounded too good to be true, otherwise you would never pay the bill!

you're the reason we're in a credit crisis

you can do a 'balance transfer' many cards have cheap rates for BTs including bankwest and stgeorge who have cards offering 0% for 6 months. BTs are done by having the destination card credit the source card and requires a special form from your bank

Make sure you checkout all the fine print such as how it affects other repayments and what rate it reverts to after the discount period

the mrs and I have a $1000 credit card we use for bills that require CC's, or for the odd online purchases etc.

normally we pay this off straight away. however I have cash sitting in a savings deposit, earning interest

Nope, it'll count as a cash advance.

Your credit card interest rate is probably 15% higher than the interest you're earning from the savings, making it a negative situation to have savings and debt at the same time.

What a retarded idea... Nothing is free in life - especially money!

although i did hear that interest rates are tipped to drop to 3.5% march next year

according to my calculations, if this continues, banks will be repaying me within 12 months

paying a credit card, with another credit card?

Is stupid

1. buy 5k worth of s*** on cc#1
2. setup visa merchant account
3. push 5k to yourself via merchant account on cc#2 (will be treated as a purchase, not cash advance so you get your 55 days)
4. use said cash to pay off CC #1 (will loose approx 3% to CC processing)

a variation on the above would be to get as many credit cards as humanly possible with the highest limits you could and then max them all out through your own merchant account effectively turning the credit into cash in your account and skipping the country !

1. Get a loan from the bank and buy a childcare center.
2. Use the first childcare center as a deposit for a loan to buy a second childcare center.
3. Loop until childcare_centers_owned > 30

Oh, wait. That's been done. Not a good idea...

It's a shame the childcare centres for sale aren't worth s***.

paying a credit card, with another credit card?

When you're in a hole stop digging.

Dig UP stupid!