Can I pay off my credit card with a credit card? How to pay off a credit card?

Can I pay off my credit card with a credit card?

Credit cards can be used to repay credit cards, provided that you have two credit cards and the credit card used for repayment has a higher limit than the credit card to be repaid.

Method 1: Withdraw cash and repay through bank counters, ATMs, etc. The most direct way is to withdraw cash and then repay the credit card. The disadvantage of this repayment method is that there are handling fees. Some banks have no handling fees for credit card withdrawals (this requires a full understanding of the credit card you have), and the amount of direct cash withdrawal will be directly included in the fees payable in the next repayment cycle. In other words, it can only relieve your immediate needs, but you will still be in pain next month.

Credit cards have a limit that allows you to withdraw cash directly. If you are in a hurry, you can only use this stupid method.

Method 2: Recharge a third-party payment account with a credit card and then repay the money

The advantage of using a third-party account as a transitional method of recharging first and then repaying is that you don’t have to withdraw money directly. Related operations can be completed online. What should be noted here is that this repayment method requires two steps. One is to recharge the third-party account. Let’s take Alipay as an example. The second is to use Alipay to pay off the credit card.

Comparison of fees for two credit card repayment methods

ICBC credit card cash withdrawal fee rules:

Free for local banks; 2 yuan/transaction for local inter-bank transactions; 1% of the amount of cash withdrawals from our bank, with a minimum of RMB 1 per transaction and a maximum of RMB 50 per transaction; 1% of the amount of cash withdrawals from other banks across the country, with a minimum of RMB 1 per transaction and a maximum of RMB 50 per transaction, plus an additional charge of RMB 2 per transaction Inter-bank handling fees.

ICBC credit card overdraft withdrawals do not enjoy the interest-free repayment period. From the accounting date to the repayment date, overdraft interest will be charged at a daily expected annualized interest rate of 5/10,000, calculated on a monthly basis. Compound interest.

Repay your own credit card: If the name on the account is the same as the name on the repayment credit card, the repayment will be free of charge. No matter whether the repayment is on the computer or the mobile client, there is no handling fee.

Situation 1 of repaying money for others: The account name is inconsistent with the name of the repayment credit card account. There are two situations. If you use Alipay wallet (Alipay mobile client) to repay, there is no handling fee. Situation 2 for repayment by others: If you repay for others on the computer client, you need to pay a handling fee. If you repay others on the computer, a service fee of the repayment amount will be charged (minimum 2 yuan/transaction, maximum 25 yuan/transaction) ).

How to pay off a credit card

1. Find out how much you owe on your credit card!

Many friends only know how to pay off their credit cards when they are due, but they don’t know how much they owe on their credit cards. Therefore, if you want to pay off your credit card quickly, you must find out how much you owe and make a repayment plan.

2. Reduce the frequency of credit card use or even stop using credit cards.

In daily consumption, credit card is a more convenient transaction method. Although convenient, it also brings some disadvantages. Swiping a card is not like a transaction of real money. People don't have much feeling about the amount of consumption by swiping a card. In this way, little money gradually adds up, and the debt becomes more and more. Therefore, if you want to pay off your credit card as soon as possible, it is imperative to reduce the frequency of credit card use or even stop using it!

3. Cancel credit cards with smaller limits to reduce the number of credit cards you hold!

An excessive number of credit cards often affects our repayment plan. Therefore, it is recommended that everyone cancel credit cards with smaller limits and reduce the number of credit cards they hold!

According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.

Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.

Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).

Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.

Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).

On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases.”

How to repay a credit card?

1. Link the deposit account of the same industry for automatic repayment. After linking the repayment account, you can activate automatic repayment, so that the bank will After expiration, the amount will be automatically deducted from the debit card bound to the user;

2. Online banking or mobile banking repayment. Transfers and remittances from online banking or mobile banking can be used to repay with credit cards. To repay, enter the bank card and login password of the repayment credit card on the transfer web page, and you can repay;

3. Repay through a third party. Websites such as UnionPay QuickPass also support credit card repayment. You can use this app to repay credit card loans.

The above is the relevant information on how to repay credit cards.

How long does it take for credit card repayments to be credited?

The time for credit card repayments to be credited is generally one to two days. The specific repayment credit time, the response speed of different banks is also different, mainly depends on the repayment method adopted by the user. For example, Industrial and Commercial Bank of China will receive money on the same day, transportation will be paid on the next day, and China Merchants Bank will be paid on the same day. Therefore, if users do not want to overdue their credit card repayments, they can only deposit money into the credit card two days in advance. After paying off the credit card, the user can make overdraft purchases within the available limit. This article mainly writes about knowledge points about how to repay credit cards, and the content is for reference only.

How to pay off a credit card on WeChat

How to pay off a credit card on WeChat:

1. Enter "My Wallet" and you will see a "Credit Card" Repayment option. After clicking in, you will see the bound credit card.

2. Click on the bound credit card to enter the "Credit Card Repayment" interface, enter the repayment amount, click "Repay Now" and enter the payment password to complete the repayment.

3. There is no service fee for using WeChat to repay, but there is a repayment limit and the arrival time is different. The credit card repayment limit is 20,000 yuan for single payment and daily payment, and 50,000 yuan per month.

What should I do if I owe a lot of money on my credit card but I still can’t pay it off?

What should I do if I can’t pay off my credit card? 1. Borrow money from relatives and friends to repay: If you just encounter a problem, you can temporarily pay off the debt by borrowing money; 2. Apply to the bank for deferred repayment; 3. Apply to the bank to suspend interest rates and report the loss; 4. Negotiate with the bank to reduce the amount Repayment amount. If negotiations fail, you can go to the bank and get a judicial credit card to reduce your debt.

It is a settlement tool for credit card savings/spending loan lines. When a general user applies for a credit card, the bank will evaluate the user's situation and then provide a corresponding limit within the user's repayment ability. Under normal circumstances, users have the ability to repay their debts, but if an emergency occurs, the repayment ability will be insufficient. Next, I'll tell you what to do if you can't afford a credit card.

1. Borrow money from relatives and friends to temporarily make up for the loopholes.

If it is just a temporary situation, you will have enough funds soon; then you can borrow some money from relatives and friends, and then pay it back when the funds are in place.

Credit card repayment skills

Comprehensive guide to credit card repayment skills:

Automatic repayment of bank cards: Credit card repayment skills - bind your savings card once and for all. The least worrying way to repay a credit card is to bind it to a bank savings card of the same person and automatically deduct the fee. If it is tied to a salary card, it is more convenient. Once the salary arrives, the money will be automatically deducted, which is safe and risk-free. Of course, the premise is that your credit card repayments are smaller than your salary.

But the problem with automatic repayment is also very obvious: you must have a savings card from the same company; you must have money in the card, and you cannot deposit it on a regular basis, only on demand.

Alipay repayment: Credit card repayment tip 2 - Alipay wallet repayment is the simplest and most versatile. Although binding a debit card and credit card repayment can be done once and for all, it is only suitable for a small number of people. Now let’s talk about the simplest and most versatile technique for credit card repayment – ??Alipay Wallet. Alipay's credit card repayment function is completely free. It supports basically all credit cards in China, and the payment speed is very fast. Many credit cards can receive payment within 2 hours of the same day, and the latest one will be paid the next day tomorrow. The reason why Alipay’s credit card repayment function is said to be universal is because, in addition to helping you repay your own credit card, Alipay can also help repay other people’s credit cards.

WeChat Pay: Advantages of WeChat Credit Card Repayment: Support multiple credit cards. Supports your own and other people’s credit cards; Disadvantages of WeChat credit card repayment: The disadvantages of WeChat credit card repayment are the same as those of Alipay repayment, the payment is not immediate.

This ends the introduction on how to pay off credit card overdrafts and how to deal with credit card overdrafts. Have you found the information you need?