Can you transfer money from one credit card to another credit card?

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No, you can't directly transfer money between credit cards. Instead, consider these options:

Balance Transfer: Move debt to a lower-interest card (fees may apply).
Cash Advance: Withdraw cash from one card to pay another (high fees and interest). Generally not recommended.

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Transfer Money Between Credit Cards?

Okay, so, can you just transfer money from one credit card to another? Like, poof, money moves? Nah, not really. I wish, tho! Imagine the possibilities.

What you can do is a balance transfer. I did that once, back in 2018 when I was drowning in credit card debt after that trip to… let’s just say “Europe” costed me 30000 and I was desperate lol. You basically move your balance from, say, your crazy-high APR card to one with a lower (or even 0% introductory) rate. There’s usually a fee, like 3% or 5% of the amount you’re transferring.

Cash advances are another, though. Seriously, don’t do it. You basically use one card to get cash, and then use that cash to pay another card. The fees are ridiculous. Plus, the interest rates are insane, way higher than normal purchase rates. Trust me, I learned that lesson back in March 2015 (I think?), and I am still paying for it mentally.

Can you transfer money from Credit One credit card to bank account?

Ugh, Credit One. I tried a balance transfer in July 2024. It was a nightmare. My bank account? Chase. I needed to consolidate debt, fast. It took forever. Like, three weeks. Absolutely ridiculous.

Credit One doesn’t let you transfer to your bank account. That’s the crucial part. You transfer from another card to your Credit One card. That’s what a balance transfer is. Moving debt from one card to another. Stupid, I know.

What a total waste of time.

Types of balances? It was only for other credit card debt. I tried a personal loan, nope. Didn’t even consider store cards. It was specifically about transferring balances from high-interest cards. Credit One’s terms and conditions were dense, confusing. I swear they deliberately make it hard to understand.

The processing time… three weeks! Three long, agonizing weeks waiting for the funds to transfer. I had to make extra calls. The customer service people weren’t very helpful, which is honestly par for the course with Credit One. They made it sound like it was my fault it was taking so long. I was furious.

Key takeaway: Balance transfers to Credit One from other cards only.
Processing time (my experience): Three weeks. Unacceptable.
Types of balances: Only other credit card debt. No personal loans or store cards in my case.

What happens if I transfer money from my credit card to chequing?

Oh, boy, you wanna know ’bout swiping plastic to fatten your chequing account, huh? Hold onto your hat!

Essentially, transferring funds from your credit card to your chequing? That’s a cash advance. It’s like asking your rich uncle for a loan, only your uncle charges 30% interest and a fee!

Think of it as this, avoid cash advances like you avoid that weird green casserole your aunt makes every Thanksgiving. Trust me.

What could happen?

Fees, Fees, Fees! They slap you with a transaction fee right off the bat. Like, “Hey, thanks for needing money, now give us some of yours!”
Interest Rate Inferno! Cash advance interest rates? Higher than a giraffe’s eyebrows. Like a dragon guarding its gold, that interest is fierce.
Credit Score Shenanigans! Too many cash advances can mess with your credit score. It’s like wearing socks with sandals – a fashion crime against your financial well-being.
Lower credit available! Cash advances decreases your credit available. It feels like suddenly the bank is giving side eye.

So, basically, it’s the financial equivalent of using a flamethrower to light a birthday candle. Only do it if you’re really desperate and know you can pay it back faster than a cheetah chasing a gazelle. It is still called cash advance in 2024. Got it memorized, huh?

Can I use a Visa card to buy another Visa card?

Huh. Visa to buy Visa? Weird question.

Yeah, I guess. Certain stores let you use a Visa gift card to buy other gift cards.

Like, why would someone DO that?

Is it like some money laundering thing? Nah, probably not. More likely…
Maybe they got a Visa gift card and want, I dunno, an Amazon one instead. Easier to spend online.

Mom always gets a Visa gift card from work. Every Christmas. She spends it all at TJ Maxx. What a life. Anyway…

It’s gotta be limited, right? Can’t imagine Walmart letting you buy, like, five grand in Visa cards with another Visa.
Must be some kinda limit, fees, or activation fee somewhere in there.

Oh! What if it’s a reloadable Visa? Is that different?

Actually, reloadable Visas are different. I use it for gas and parking. Easy peasy.

The fees, though. Yikes!

Still, it could be useful. Say you got some random balance left on one. Just transfer it to another.