Ok, well I made a mistake while paying for something recently.

I had intended to use my VISA#2 to pay for an online purchase for paypal, but somehow, it ended up being billed onto VISA#1. This is not really an issue, but I wanted to use VISA#2 to collect points and so on. The problem is that suddenly, something pretty major came up, and long story short, I don't have enough funds to pay off my VISA#1 this month. I want to take advantage of using a balance transfer (@3.9%). The problem though, is that only VISA#1 is offering this balance transfer and I was already billed onto VISA#1.

Can I somehow transfer my balance onto VISA#2 and then re-transfer it back to VISA#1 to take advantage of this reduced rate? If so, how do I go about doing it?

Please don't flame me about using my CC to pay for things I don't have money for. The truth is, this was an extreme circumstance that I didn't see coming. Sometimes, other things take priority I guess (read: family).

Thanks,

 

Balance transfers usually have a % fee attached. Also, you normally don't get points for transfers. Transferring it back and forth will have two fees associated most likely more than wiping out any potential rate savings. Just pay it off next month and never carry a credit card balance again.

Get the points, pay it off, repeat. NEVER carry a balance!!!

 

You have to pay a fee every time you do a balance transfer, so it might not be worth it.

 

The part about collecting points should be clarified. I was trying to collect points by purchasing it with VISA#2 initially. Somehow, they billed me on VISA#1, lol.

There is a fee to transfer balances? Is it even possible to transfer from VISA#1 to VISA#2 and back to VISA#1? The interest rates are QUITE significant, as in 3.9% VS. 19%

 

How big of an amount are you trying to transfer?

 

You're looking at a 15% difference over a whole year. If you transfer the money twice you may be charged 3-5% or whatever twice, and right now, not annualized. Just pay it off ASAP.

 

Get a third one at 0% and when you apply you can do transfers right away. Drop the other two cards and carry a 0% one for a year.