Can credit cards repay each other?

Credit cards cannot repay each other. The reasons are as follows: First of all, using one credit card to repay another credit card is actually a Using the bank's funds to repay the loan means occupying the bank's funds for a long period of time. In fact, the cardholder has not repaid the debt. Secondly, mutual repayment between credit cards is a very risky method, because if one of the credit cards cannot repay on time, the other credit cards will be affected. If the repayment cannot be made on time, interest and late payment fees will accrue. In the long run, In addition, cardholders will experience compounding interest rates and leave a "bad credit" record with the bank.

Problems with repaying each other's credit cards between two credit cards:

1. If they are from different banks, they have the same credit limit and repayment time;

2. The repayment time of the two cards should be different, that is, card A should be repaid at the beginning of the month, and card B should be repaid at the end of the month, so that there can be an adjustment period of more than 20 days;

3. Try to use two cards The longest interest-free period;

4. Stagger the repayment dates, for example:

Card A starts consumption on the 3rd, for example, consumption on March 3rd, issue on April 2nd For bills, the last repayment date is April 21st;

Card B will start consumption on April 9th, and cash can be withdrawn or cashed out on April 20th to repay card A;

Card B will be in May The bill will be issued on the 8th, and the repayment date will be May 27th; Card A will be able to withdraw cash on May 25th and 26th to repay Card B.

Finally, a reminder, this method is feasible in theory and practice, but it is not cost-effective at all, because cash withdrawals require handling fees and interest.

Credit cards cannot be used to repay i-credit cards, only debit cards can be used to repay credit cards. The balance in the debit card can be used to repay credit cards from different banks. The funds in the credit card can only be used for consumption payments and cannot be used for transfer repayments.

For example, card friend Xiaoci has two credit cards. Card A has a limit of 10,000 yuan and card B has a limit of 20,000 yuan. After he uses card A to make purchases, he transfers money to card B through the POS machine. Then use the money from card A to repay card A; then wait until the bill of card B comes out, and then use the money from card A to repay card B. In this way, you can use the two cards to repay each other in a cycle.

It may seem nice that you only need to pay some credit card fees to solve the problem, but doing so is risky.

The consequences of mutual repayment of two credit cards:

1. According to the operation method introduced above, mutual repayment of two credit cards is realized through POS machine cashing out, and we We all know that cashing out on a credit card is an illegal use of the card. If it touches the bank's risk control point and is controlled by the bank, the limit may be reduced, or the card may be blocked.

2. On the surface, the mutual repayment of two credit cards is successful, but you will always owe the bank a sum of money, which is the consumption before mutual repayment. Even if you pay off the bill this month, you will still owe the bank a sum of money. You still have to make payments next month, and this cycle never ends unless you pay it off yourself.

3. If the POS machine used is irregular, such as some code hopping machines, second-clearance machines, etc., your information may be leaked, and it is possible for the card to be stolen.

The above is the relevant introduction to "Can two credit cards repay each other?" In short, it is possible to repay each other with two credit cards, but the risk is very high, so don't try it easily. Of course, the best way is to control your desire to use credit cards and spend money with credit cards under conditions you can afford.

Can two credit cards repay each other and use them alternately

1. Two credit cards can repay each other. The only legal way is to withdraw cash from another credit card at an ATM or over the counter and use it to repay another credit card. Except for cash withdrawals at ATMs and counters, all other methods of cash withdrawal are using credit cards and are illegal.

It is possible to stagger the billing dates and repayment dates of the two credit cards and repay each other through cash or cash withdrawal on the two cards. However, the cost will be relatively high and regular operation is not recommended.

2. You can apply for other credit cards. After withdrawing cash from the ATM, repay the amount of the Peony credit card before the last repayment date on the 25th of each month, and then use the salary card to repay the amount of the other credit card.

Note: Credit card cashing out is very risky. If the bank discovers malicious cashing out, the credit card will be frozen or deactivated, or the bank will need to bear corresponding legal responsibilities in serious cases.

Extended information:

Credit card repayment process:

1. Log in to the ATM repayment homepage of the account opening bank and click on credit card repayment;

2. Fill in the credit card repayment information: follow the prompts, select the credit card issuing bank, enter credit, cardholder name, monthly repayment date, repayment amount and contact information and confirm;

4. Transfer the debit card to online banking to complete the payment: follow the prompts and use other bank's debit card to complete the payment through online banking;

5. The repayment is completed, the transaction is inquired, and the receipt is printed.

Reference material: Baidu Encyclopedia - Credit card repayment

Reference material: Official website of the People's Bank of China - Credit card cash out

How to repay each other between credit cards< /p>

1. Cash withdrawal and repayment by credit card. You can directly use the limit of one of the credit cards to withdraw cash at an ATM or over the counter for repayment. This is a more formal way of repayment. After 30, a handling fee and a daily interest of 0.5% will be charged. As for the specific handling fees, each bank is different.

2. Help others to repay by swiping their cards. Actually, this is a very simple method. Just use another credit card to swipe a friend's card, so that they can pay themselves in cash. After you have the cash, you can return the other credit card. This method is suitable for repayments of smaller amounts.

3. Use POS machine to repay. Use a credit card to swipe orders at the POS machine, and the merchant will give you cash. It should be noted that this method is actually a credit card cash-out, and there are certain risks. In addition, credit card cash-out merchants have many customers, and the POS machines of cash-out merchants are easily targeted by banks, which may cause cardholders to have their cards blocked by the bank.

The earliest credit card appeared at the end of the 19th century. In the 1880s, the British clothing industry developed so-called credit cards, and the tourism and business sectors followed suit. However, the cards at that time could only be used for short-term commercial credit, and the money still had to be paid as and when used. Long-term arrears were not allowed, and there was no credit limit.

A credit card is generally a special carrier plastic card with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name, etc. are printed on the front, and there is a chip on the back. Magnetic strip, signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks.

It is said that one day in the 1950s, American businessman Frank McNamara was entertaining guests for a meal in a New York hotel. After the meal, he found that he had forgotten his wallet and had to call his wife to bring cash. McNamara came up with the idea of ??starting a credit card company because he felt embarrassed about paying the bill at a restaurant. In the spring of 1950, McNamara and his friend Schneider invested US$10,000 to establish the "Diners Club" in New York, the predecessor of Diners Club. Diners Club provides members with a card that can prove their identity and payment ability. Members can use the card to record their purchases at 27 designated restaurants without having to pay cash. This is the earliest credit card. This kind of credit card that does not require bank processing is a commercial credit card.

Disadvantages of mutual repayment between credit cards:

1. Loss of money. Several credit cards repay each other, which is actually done with the help of credit card repayments. You also need to pay through a third party. If this third party is unreliable and runs away with the money, the money that was swiped away will not be returned.

2. Information leakage. There is also the problem of unreliable third-party payment, which may cause the leakage of credit card information and personal information, creating the risk of being stolen. If it is stolen, you will have to admit that you are unlucky and the bank will not be held responsible.

3. Loss of credit. Credit card agency is still an act of cashing out. If the bank thinks there is a risk of cashing out, it is a trivial matter to reduce the credit card limit. If the card is blocked or recorded in the credit record, it will be troublesome. When you want to apply for a credit card or loan in the future, it will not be easy to get approved.

4. Bear legal responsibility. Cashing out on a credit card is illegal and you will be held legally responsible and may even go to jail. This situation actually happens, so it's best not to take any chances.

Can credit cards repay each other directly?

Can credit cards repay each other? Is this the case? In addition to mutual credit card repayment operations on third-party payment platforms, individual banks The function of using our bank’s credit card to repay other bank’s credit cards has also been enabled. Mutual repayment by credit cards is also known as using the card to support the card. We would like to remind all credit card holders that repaying each other with credit cards will still incur fees and interest due to credit card cash withdrawals. It will also increase the burden on the cardholder. It is best not to use it unless necessary!

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Can credit cards and credit cards repay each other

Credit cards and Credit cards cannot repay each other, and credit cards cannot make direct transfers and repayments. However, you can withdraw cash to repay another credit card through the cash advance service. However, interest and procedures will be charged for credit card cash advances. fee (optional).

Therefore, if two credit cards are used to repay each other in this way for a long time, a large amount of interest and handling fees will be accumulated. So it is better to develop good consumption and repayment habits.

Credit card repayment methods

The methods within the card issuing bank include: card issuing bank counter, ATM, online banking, automatic transfer, telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.

Weiyintong POS mobile phone and Weiyintong POS mobile phone are a mobile financial system personal payment terminals that can be used to directly repay by swiping cards, as well as perform transfers and other services. Instant payment!

Transfer/remittance repayment is mainly divided into two methods: inter-bank inter-bank in the same city and inter-bank inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.

The more common domestic online platforms for online repayment include: UnionPay Online, Kuaiqian, Shengfutong, Alipay, Tenpay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.

This method of convenience store repayment is mainly completed through the "Lakala" smart payment terminal installed in the convenience store. Generally, the payment time takes 2 to 3 working days. At the same time, using this There is no handling fee for repayment.

Counter repayment counter refers to bank cards issued by various networked financial institutions, which can be used to conduct RMB current deposit and withdrawal transactions through the counters of other bank branches registered in the UnionPay exchange center host system.

The "Xinpaytong" smart credit card phone for repayment is an innovative electronic product independently developed by China UnionPay, certified by the Bank Card Testing Center, and supported by financial services provided by China UnionPay's inter-bank information exchange network.

Repayment Tong uses "Repayment Tong" to repay, and the fees are generally charged according to the fee standards for intra-city inter-bank transfers and long-distance inter-bank remittances stipulated by the local People's Bank of China.

Other methods In addition to the methods mentioned above, card issuers have also opened their own unique repayment methods in order to facilitate cardholders' repayment.

How to transfer money between two parallel credit cards

There are the following methods to transfer money between two bank cards:

Method 1: If two banks One of the bank cards in the card is bound to Alipay, so users can transfer money directly through it.

Method 2: You can bring two bank cards to the bank teller machine of one of the bank cards, enter the password according to the prompts, and then the transfer can be successful.

Method 3: You can fill in the remittance form at the respective banks of the two bank cards, fill in the relevant information on the remittance form as required, and hand over the money to be remitted to the bank counter staff, and the transfer can be successful.

Method 4: You can bring your personal ID card and bank card to the bank to activate mobile banking and online banking, then download mobile banking and follow the prompts to register, and then you can transfer money to another bank card.

Transfer (transferaccounts) refers to a bank currency settlement method that does not use cash directly, but transfers money from the payment account to the receiving account through the bank to complete currency collection and payment.

It gradually developed with the development of the banking industry. When the settlement amount is large and the distance is long, using transfer settlement can make it safer and faster. In modern society, the vast majority of commodity transactions and currency payments are conducted through transfer settlement.

Transfer methods

There are many methods for transfer settlement, which can be mainly divided into two categories: intra-city settlement and long-distance settlement. Intra-city settlement includes check settlement, payment authorization settlement, intra-city collection and commitment settlement, collection without commitment settlement and limit check settlement, etc.;

Remote settlement includes remote collection and commitment settlement, remote entrusted collection payment settlement, exchange settlement, letter of credit settlement and limit settlement, etc.

On February 25, 2016, the five banks, ICBC, ICBC, ICBC, China Construction Bank and Communications Bank, held a joint press conference on “Strengthening Account Management and Promoting Inclusive Finance”.

Handling fees are waived for domestic RMB transfers and remittances handled by customers through mobile banking, and handling fees are waived for customers' domestic RMB online bank transfers and remittances of less than 5,000 yuan to reduce customer expenses.

Scope of application

As a bank settlement method, transfer has a wide range of applications. Transfer settlement can be carried out between the same city and different places, between unit accounts and unit accounts, between unit accounts and personal accounts, and between personal accounts and personal accounts.

Handling Principles

Bank transfer settlements and units handling transfer settlements at banks should abide by the principles of clearing both money and goods, safeguarding the legitimate rights and interests of both payers and recipients, and not granting advances to banks. . In addition, transfer settlement should also comply with relevant national regulations.

Free transfers

Free transfers within the bank

In order to effectively curb the behavior of buying and selling accounts and fake account openings, and comprehensively promote the real-name management of accounts, the "About Strengthening Payment and Settlement Management" "Notice on Preventing New Illegal Crimes in Telecom Networks" clearly stipulates;

Since December 1, 2016, if a banking financial institution opens a bank settlement account for an individual, the same person in the same bank will only If you can open a Category I account, you have already opened a Category I account, and if you want to open a new account, you should open a Category II account or a Category III account. This move is intended to protect the safety of funds.

At the same time, in order to reduce residents’ transfer costs, the Notice on Strengthening Payment and Settlement Management to Prevent New Illegal Crimes in Telecom Networks clearly stipulates that banks will charge off-site handling fees for the bank’s intra-bank non-local cash deposits, withdrawals, transfers and other services. , it shall be free within three months from the date of issuance of this notice.

This is the end of the introduction on whether mutual credit card repayments and mutual credit card repayments affect credit reporting. Have you found the information you need?