Using a credit card to pay off a credit car

[marla]

Is it possible to use a credit card to pay off another credit card to earn the mileage bonus? I have an American Express and an airline VISA - could I use my VISA to pay off the American Express balance thus not having to pay those dues for an extra month and earn extra bonus miles?

[kork13]

I could be mistaken, but I believe this would be considered a 'balance transfer', and at least in any credit card I've seen, balance transfers do not qualify to receive rewards.

However, you can definitely use a balance transfer to pay off the balance of your AmEx card.

[safari]

I've been doing that because I have several cards with 0% on balance transfers and no transaction fees, so I've been transferring money back and forth between those cards, so I wouldn't have to pay anything out of pocket, while the money I borrowed is sitting in a savings account and earning interest. However, as the previous poster pointed out, balance transfers are usually not eligible for points, miles and cashback.

[disneysteve]

If your balance transfers are free and earn rewards, that's fantastic and you can definitely exploit that. I used to do that with my AOL Visa years ago until they changed the rules. I made hundreds of dollars doing it while I could. I no longer have a card that has such generous policies, though.

[dollarsaign]

If the credit card rate is less than the car loan. Than absoultely do it. It's to your benefit only.

[Slug]

I think the CC companies are on to this. I don't know of any card willing to give me anything on balance transfers.

[CreditExpert]

it depends what the rate on the cards are. You might end up paying more interest if you skipp the money around like that. Also like a pp said, check to see if you will get the bonusses, most companies does give rewards for thing like this.