Many cardholders will think of using another credit card to repay their debts when one credit card expires, but they can't transfer money to each other for repayment. What will happen unless you cash out a repayment?

Can I repay my credit card with a credit card?

The main function of a credit card is to meet the cardholder's demand for interest-free overdraft consumption. You can't repay your credit card with a credit card. If you withdraw cash for repayment, you can't enjoy the interest-free period, and the cardholder needs to bear the handling fee and interest.

because the high cost of withdrawing cash by credit card is unacceptable, many people take advantage of the loopholes and bypass the bank to withdraw cash privately.

So, is it worthwhile to repay the credit card by withdrawing cash or cashing it out? Please explore with Xiaobian:

1. The way to withdraw cash by credit card

is formal and legal, that is, the issue of withdrawal fee. Take China Merchants Bank as an example,

withdraw 1, yuan and pay it off after 3 days, and the fee is as follows:

Handling fee: 1, * 1% = 1 yuan;

interest: 1, * .5% * 3 = 15 yuan;

The total cost of cash withdrawal by credit card is 25 yuan, that is to say, the cardholder needs to bear such a cost by taking a credit card to repay the credit card.

2.

It is illegal to cash out by credit card. Once discovered, the bank will take measures such as reducing the amount and sealing the card, which will affect the bank's trust in you, and cash out will also bear the cost.

At present, the handling fee rate of credit card cashing is between 1% and 3%, and the fee of 1, yuan is between 1-3 yuan, with no interest. However, there are risks in cashing out and it is not worth recommending.

in a word, you can't use a credit card to repay a credit card, unless you use a credit card to cash out or cash out, and bear a certain handling fee. I suggest that if it is really difficult to repay, even if the cash withdrawal fee is high, don't be greedy and choose to cash out.