Can I pay a credit card with another bank?

How do I pay my credit card with another bank account?

Paying a credit card from a different bank? Okay, let’s unpack this. It’s doable, but expect potential speed bumps.

Two main routes exist, and sometimes it feels like navigating a labyrinth of fees, tbh.

• Direct Bank Transfer (ACH): Most card issuers let you link external accounts. Look for the “Pay From” or “Bank Accounts” section online or in the app. This is usually free, but beware of processing times. Transfers can take several business days to clear. My grandma uses this.

• Bill Pay Service: Your bank’s bill pay feature is your friend. Add the credit card company as a payee and schedule payments. Again, double-check processing times. It’s reliable, like getting snail mail, but not exactly instant.

Using a debit card from another bank directly to pay a credit card isn’t universally offered. If it’s available, it might trigger a cash advance fee on the credit card, essentially treating it like you’re borrowing cash. Ouch! Not cool. Always verify fees. Some services, like Plastiq (although fees apply), used to offer similar functionality, but double-check their current policies. Plus, some cards don’t let you at all.

Remember, on-time payments are paramount to avoid late fees and maintain a healthy credit score. I paid late once, and dang, what a sting!

Can I transfer credit card balance to another bank?

Okay, so like, balance transfers, yeah, you can do it.

I did it last year, 2024, with my Discover card. Ugh, huge mess, but saved money.

Basically, I logged into the Discover website, all bleary-eyed at like 7 am before work. Total drag.

It was clunky, the website, but I found the “Balance Transfer” section.

Then, like, a form pops up. Annoying.

You gotta have the other card info, like account number, bank name. Got it from my Chase app.

• Account Number: Needed that. Duh.
• Bank Name: Obvious, Chase.
• Amount: The big one. I transferred like 3 grand? Yeah, around 3k.

Chase’s APR was KILLING me, so I was desperate for Discover’s 0% intro offer.

Felt anxious clicking “Submit”. Hoped I didn’t screw it up. I definitely didn’t want that to happen.

Took a few days, maybe a week, and Chase balance went down. Woohoo!

Totally worth the hassle, even with the slight transfer fee. Small price to pay to save a ton of money.

My main card for daily use is still the Chase Sapphire. I get points on everything, ya know? Way better rewards. But the balance went to Discover to take advantage of that sweet promo APR.

Can I withdraw money from my credit card?

Yes, you can. But at what cost?

Cash Advance Fee: Plan on 2.5%-3%. Or more. Check the fine print. My dentist charges less.

• It’s a percentage, always.
• Varies by issuer and your luck.

Interest Rates: Higher. Always.

• Starts immediately.
• No grace period, ever.

It’s not your money. Borrowing is borrowing. Even from yourself. Or is it?

Think of it this way: convenience has a price. Usually a steep one.