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Card B will start consumption on April 9th, and cash can be withdrawn or cashed out on April 20th to repay card A;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 the two credit cards is successful, but you will always owe the bank a sum of money, which is the consumption before the 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 clearing 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.

How to repay each other with two credit cards without incurring interest

1. In fact, it is possible to repay each other with two credit cards, but it requires a certain cost, such as Fees, interest, or certain risks. There are three ways to repay each other with two credit cards:

1. Withdraw cash from the credit card and repay. 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. It is to use another credit card to swipe the card for a friend, so that the friend can pay himself in cash. After having the cash, he 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.

However, in this cycle, it seems that you don’t have to pay out of your own pocket to repay the loan. In fact, it is risky to tear down the east wall to make up for the west wall.

Extended information:

2. Safety and risks that need to be paid attention to:

1. Loss of money

Several credit cards repay each other The payment is actually handled with the help of a credit card. 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

It is also a 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. Credit loss

Credit card agency is still a kind of cash-out behavior. If the bank thinks there is a cash-out risk, it is a trivial matter to reduce the credit card limit. If the card is blocked or recorded in the credit record, That would 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. Legal liability

It is illegal to cash out with a credit card, and you will be held legally responsible and may even go to jail. Don't believe it, there are real cases of being bankrupted.

3. Suggestions:

Instead of being clever and taking advantage of loopholes, it is better to develop good consumption and repayment habits honestly.

What are the consequences of mutual credit card repayments? The risk is very high

Many cardholders have several credit cards in their hands and want to use the interest-free period of each card to repay each other. Although it is feasible in operation, the risk of doing so is very high. It’s big, and there will also be some bad consequences. Let’s take a look at it below.

What are the consequences of mutual credit card repayments?

There are many ways to repay each other on credit cards, the consequences will be different, and the risks will be greater or less.

1. Money loss: Generally refers to the use of POS machines to swipe each other's cards to repay each other, that is, using the POS machine to swipe the money out of one credit card and return it to another card, and then repay each other's cards. If you choose an irregular POS machine, it is possible that the money will not be credited after swiping the card. Once the POS machine merchant withdraws the money and runs away, it will inevitably cause financial losses to the cardholder.

2. The more you pay, the more you pay: This usually refers to using multiple cards to withdraw cash from each other to repay the loan. Although from an operational point of view, the bank supports the use of credit cards to withdraw cash, but doing so in the long run will lead to more and more repayments. The more you pay, after all, there is a cost for withdrawing cash with a credit card. Cash withdrawal fees are essential, and interest will be calculated on a daily basis. The daily interest rate is 50%. The larger the cash withdrawal amount, the more fees you have to pay.

3. Information leakage: Some people will find some third-party companies to repay on their behalf. The operation method is also to use POS machines to swipe the card to repay the card. If you encounter some irregular companies, it may lead to It is difficult to recover losses if information is leaked and used by malicious people to create fake cards.

4. Block the card and reduce the limit: If you often use the money in the credit card limit to repay each other, this is an abnormal use of the card, and it is easy to touch the bank's risk control points, and the limit may be reduced. , or the card will be blocked.

In short, mutual credit card repayments can temporarily avoid overdue payments, but there are various risks, so you should not try it easily, so as not to get yourself into a quagmire.

What will happen in the end if you apply for more credit cards and keep repaying each other, with more and more debts owed?

Such as the title says, what will happen in the end if you apply for a few more credit cards and keep repaying each other, with more and more debts owed? I definitely can't afford to pay them back, they are all overdue and I'm stuck in the credit card abyss.

Why does this happen? Although the repayment date for each bank's credit card is different, if you owe a sum of money to Bank A's credit card, you can withdraw funds from Bank B's credit card and pay off Bank A's credit card. There are handling fees for cashing out. As time goes by, the handling fees increase and the amount owed increases, just like a snowball.

Jintou.com believes that the better outcome of this situation is that you raise funds from elsewhere and stop the snowball. Otherwise, it will be overdue, blacklisted, and become a black account. This is also what many people think of credit cards. Reason for fear.

Who is suitable for a credit card?

1. People who need funds in the near future;

2. People who need loans;

3. People who are self-disciplined and can repay on time.

Among them, Jintou.com believes that self-discipline is the most important. Some people say that a loan can allow you to create a credit record and no longer be a "white account" of credit, which has reference value for future bank loans. But if If you don't repay the loan on time, it will be counterproductive to turn your "white account" into a "black account".

Who is not suitable for applying for a credit card?

Similarly, who are not suitable for credit cards? Jintou.com believes that people who have low self-control, cannot control their consumption desires, and have no ability to repay should not go through it. In this case, they will most likely fall into the abyss of credit cards and be unable to extricate themselves.

Everything has two sides, good and bad, and the same goes for credit cards. If used well, it will be more powerful than a tiger. If used poorly, it will lead to the devil in hell. Therefore, everyone has the idea of ??getting a credit card. When it comes to time, evaluate yourself first. In short, the thing is a good thing, the key depends on how you use it!

You will die miserably in the end. Every person with a card around me will die on the card. Credit cards are a trap. You can use them temporarily, but you must not use them for consumption, because this will The money inside has to be repaid. Many people ignore this and often think that they can pay it back next month. Excessive consumption is a sin.

Finally, it’s time to turn around! If you don’t look back, you will be in prison!

If you have no source of income, you will eventually repay the debt, and then be charged by the bank and recorded on your credit report. The bank will call your parents and relatives to ask you to pay back the money

Hello, this question depends on the specific situation, because all financing has costs and must be repaid. The funds raised can only be used for correct investment, not consumption!

(1) For those who know how to play with capital, they must borrow the power of financing leverage to strengthen themselves. The easiest way is to apply for a few credit cards and pay them back and forth. The cost is the lowest and is suitable for processing. Entrepreneurs or ordinary counterattackers, as long as they master the correct operating ideas, there is absolutely no risk in playing with several credit cards. In the end, they can only make money!

(2) For those who don’t understand finance and don’t use financing for consumption, playing with credit cards will only dig a hole for themselves in the end, and eventually lead them to a whirlpool of debt!

(3) Finance is a double-edged sword. If you use it well, you will go to heaven; if you use it badly, you will go to hell. However, those who do not know how to use financial leverage can only stay where they are!

The specific situation must be determined according to your own actual situation. You cannot blindly follow the trend, especially in finance.

I personally suggest you not to reverse the card. The so-called reverse card is to withdraw the money from one card and pay it back to another card. If the cycle continues like this, as long as you have a good grasp of the billing date of each card, it will naturally be easy. You don't have to pay interest to the bank if it's overdue, but you also have to bear the cost of swiping the card. If this continues for a long time, it can be seen from your transaction flow that you are paying back the card. The bank will usually lower your credit card limit first, so that Because your credit card limit becomes low, you will be unable to use the card to cash out normally and then transfer the card. In the future, a more serious problem may arise. You will find that the money you deposited into the credit card cannot be used out, and you will have to pay it back in the future. Money cannot be swiped by card. When you are short of money, you are not far from being overdue. Sometimes the bank will advise you to make installments of the money you owe.

Reasonable use of credit cards is something every cardholder must do, because banks will not force you to apply for a credit card, nor will they force you to make purchases. No matter how much or how little you consume, it is a debt you owe and you must repay it. When you cannot repay the money you owe, there will be a bad record on your bank credit record, which will prevent you from getting a loan in the future.

Consume rationally, don’t overdraw, do within your ability, and don’t deliberately pursue an excessively high quality of life.

Everything has two sides, especially credit cards. Some people use credit cards to become card slaves and end up in extremely pitiful circumstances, while others use credit cards to make their lives better.

Let’s talk about myself. The total credit limit of all credit cards is about 600,000, and the monthly credit limit is 350,000. Credit cards make my life more bourgeois! To give a few examples, I sold a house a few years ago and needed a bank deposit of 700,000. I only had 200,000 in hand, which was far from enough. If I borrowed it from a friend, I would need to owe multiple favors, and if I borrowed it from a loan company, I would have to pay. The bridge fee of two points a month would cost 20,000 yuan in interest in two months. I chose to use a credit card without hesitation. The cost of using the funds was less than 5,000 yuan. Using credit cards will generate countless points. I have never spent a penny on drinks at Starbucks. All the kitchenware at home is from Zwilling. In addition, the CCB gas money can be used for free 400 yuan every month, and countless other things. benefit.

This is like a snowball, and it will get bigger and bigger, so temporary relief can be provided by using the interest-free period of credit cards, but when the snowball reaches a certain size, it must melt and be supplemented with monthly income. , and then the total debt each month gradually decreases, this will work. Remember, when you need more credit cards to repay your debt or need to continuously increase your credit limit to turn over, it means that it is already very dangerous. This critical point must be grasped carefully.

Let’s increase revenue and reduce expenditure, and pay back the money as soon as possible. There is no pie in the sky. If you use bank money, the bank interest is also very high. This infinite loop method feels perfect, but once it is overdue and a bank cuts off your food, it will be like a domino effect, and you will instantly fall into the abyss.

If you can make money, you must be able to save it. Whether you open the news or various apps, they basically encourage you and me to consume, but they have never written about you that you should save some money for emergencies. I was like this when I was young. I saw a mobile phone being advertised as good, and everyone around me bought it. What should I do? , now 600 yuan is not worth it. In this process, I just enjoyed a little bit of vanity. The people around you have changed their mobile phones at least five or six times in the past few years, and no one remembers that you once made them jealous. Just take the mobile phone as an example! ! Don’t spend what you can to save money.

What will happen in the end? If there were no accidents, of course I would be unable to repay the loan, so I would have to use the loan to support the loan!

Hello, I am Brother Jin, a middle-aged man who knows a little about credit and insurance business. Regarding your question, my opinion is:

1. The behavior of charging multiple credit cards must be due to credit card cash-out. Cashing out by credit card is against relevant laws and regulations. Let’s not talk about the handling fees required for cashing out. Just talking about the risk of cashing out may directly face the bank’s reduction or card blocking. If this happens, do you think your bill can be reversed? Don't listen to those return software or POS machines that say they are absolutely safe. As a bank, your transaction location, time, amount, and consumption habits can all give you a customer portrait. Whether there is any cash-out behavior, the bank will know at a glance, but it will not bother to pay attention to you without triggering the system prompts.

2. Paying off a credit card with a credit card only delays your overdue date with the cash-out fee, but does not reduce your actual debt. On the contrary, the credit card processing fee is deducted from the total credit card and the debt is increased. Without funds for repayment, debt will only get higher and higher. In this case, only reasonable planning and a fixed amount of money to repay credit card debt in the short term are feasible solutions. For example, if the total debt is 100,000 yuan, and the handling fee for transferring the card every month is 1,000 yuan, then set a rule for yourself to find a way to deposit 3,000 yuan every month as repayment. Only in this way can you reduce your debt over time.

3. Regarding using loans to support loans, Brother Jin has come into contact with many people who use loans to support loans. In addition to those who have failed to start a business or gamble, many of these people have failed to pay back credit cards or small installments such as Huabei borrows, so they think about whether to borrow tens of thousands of yuan to make a debt settlement. How to put it, the idea is right, summarize debts for easy management. But the premise is that you must find a bank-based consumer loan, taking into account comprehensive considerations: personal repayment ability, capital planning, and whether the comprehensive interest rate is lower than your credit card cashout? Wait for the question. At the same time, you should change your consumption habits and avoid impulsive consumption. Before swiping a credit card, consider your repayment ability. Otherwise, even if you solve the problem with a loan, you will only be taking the first step in using a loan to support the loan.

Finally, I am Brother Jin, I hope my answer can help you a little bit. Only true repayments will help reduce your debt.

Increasing revenue and reducing expenditure is the most important thing you should do right now!

This concludes the introduction to mutual repayment of multiple credit cards and mutual repayment of two cards. Have you found the information you need?