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Q: I don’t have the money to pay off my credit card balance this month. Can I pay off my balance from one card by using another credit card I have?
A: Credit card companies usually do not allow you to make payments on your credit card with other credit cards. So if you want to use a second credit card to make monthly payments on the first, this will not work.
It is possible, though, to do a balance transfer, and this may actually be a good idea if the interest rate is lower. All you have to do is call the number on the back of the card, tell them you want to do a balance transfer, and give them the number of the card you want to pay off. This can help you save a lot of money in interest payments. Just keep in mind that it may affect your credit score.
Another possibility is to get a cash advance and use that to pay a credit card payment; however, I would not recommend this option. Credit card companies usually charge much higher rates for cash advances. Unless you know for certain that you can pay it back by the end of the month, this is a bad idea, and one that can get you into financial trouble.
If you do a balance transfer or a cash advance, keep in mind that it is only a temporary solution. If you’re struggling with paying the minimum payments, you need some more permanent measures than shuffling money around to different credit cards.