Quote:
jam161 typed:
what i was wondering is not going to the bank and say lets transfer this.. i am just wondering if you can go to the bank and pay credit card a's 20 dollars off with credit card b as if credit card b were spending 20 dollars at the movies or something.. just charge it.. then there would theoretically be no transfer or cash advance.. just a normal charge..
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You shouldn't be able to do this "like spending 20 dollars at the movies". You can probably do this "like getting a 20$ cash advance".
The reason is, when you buy something from a movie theatre, a % of your purchase goes to the credit card company (about 3%?). Payed for by the movie theatre. On these purchases, you don't get charged interest until the end of the month, and you get magic points on many cards.
When you withdraw cash or pay another credit card, your credit card company doesn't get the 3% (or whatever). You get charged interest from the moment you make the payment/cash advance.
There are occasionally special cheques given to people with credit cards that allow you to transfer balances, but you won't always have these: they are a special deal, the credit card's attempt to get you to pay them interest instead of paying someone else interest.
