paying a credit card bill with cash

[rigz]

I have a credit card from a major bank. can I go into a local branch of that bank and pay off my balance in cash? I do not have any checking/savings accounts at this bank.

also is there any tax ramifications if I do this? or any other factors I need to consider?

thanks.

[Slug]

I see no problem with this. I would just call the bank first to double-check.

[lorraineb]

Many bank credit cards are actually done by an outside company (not the bank itself). I'm not sure if this would cause any issues, but it makes it important to ask. Bank transfer to pay for credit cards is common, but if this is only a one time payment, there could be a fee involved.

[disneysteve]

The only possible issue I can think of is if your payment is more than 10K the cash transaction gets reported under the Patriot Act.

If the bank won't accept a credit card payment, you could just get a cashiers check or money order which will cost a couple bucks.

[jpg7n16]

I have a credit card from a major bank. can I go into a local branch of that bank and pay off my balance in cash? I do not have any checking/savings accounts at this bank.

If the bank allows you to have a CC w/o an account, they must have a way for you to make payments.

At Wells Fargo, I used to go in with cash, pay one part to my CC and deposit the rest to my bank account. I see no reason why they wouldn't allow you to pay with cash.

also is there any tax ramifications if I do this?

No. You are taxed on income, or sales tax, or gifting too much money in one year.

This is just paying a bill. No tax.

Do you have any tax consequences of paying your light bill? This is pretty much the same thing.

[lindsay06]

I've never done this but it has to be possible. Just phone your credit card company or your bank about how to do it.

[snafu]

Unless it's a tiny amount, why would you want to put yourself at risk carrying larger sums of cash when you can pay on-line, in the comfort of home, to any credit card - just add it to your bill paying system. Do you know you can even pay person-to-person on-line, easy peasy

[bjl584]

You should be able to.

I've gone to Lowes and paid off my store CC balance at the service desk with cash before.

I'd assume banks work the same way.

[ccole]

Call your CC company first. Best to ask them rather than going to the bank and then not able to pay via cash.