Is paying off a credit card with another credit card the same thing as a balance transfer?

I've got a credit card I'm paying off with super high interest (26%) and want to switch to another card with a lower interest rate. Can I just pay it off with any other credit card or do I have to do a balance transfer which involves some special process?|||You can request a balance transfer check from your bank with reduced interest.





Alternatively, you can buy money orders (not bank checks) with your credit card, which can be used to pay off the high interest card. The interest will be the same as other purchases instead of cash advance, as long as you purchase the money orders at a retail establishment (i.e. small convenience store such as 7-11), and not at a bank.|||It depends, balance transfers sometimes have lower interest rates on a credit card. For instance, a credit card may offer you 5.99% interest on a credit card balance that you already have, if you put it on their credit card instead. The one stipulation is that it cannot be a credit card issued by the same bank. (Why would they only want to collect 6% interest on an account they are already collecting more percentage on.) Then some credit cards offer 6% on balance transfers, but charge 12% on puchases, but 18% on cash advances or sometimes even more. These are the cards you want to make sure you do a balance transfer with and make sure the 6% doesn't end in 6 or 12 months. Other cards if your credit is excellent will only charge you 6% reguardless of how you charge the money, balance transfers, purchases, or cash advances. These cards are great because you can just use the card at your bank to deposit the full balance amount (if necessary) right into your checking account and then you can just write checks to pay off your other balances. This is great because usually there is a 3% fee for balance transfers and cash advances, but there is usually a cap like $(99-150). So if you get a card with a $10,000 limit you will only pay $(99-150) to transfer just under $10,000 instead of almost $300. I also borrowed money on cars I had already paid off to pay off credit cards that were trying to screw me. They knew these knew these "anti-slavery" credit laws were coming and were trying to get paid off before I screwed them by eliminating most of my debt. Whatever you do read the fine print and be smart. Balance transfers are not really any special process the money is just transferred directly from one bank to another, kind of their way of letting each other know who is screwing who out of interest money. Thats why it is so important to have and protect an excellent credit score of 700 or higher. You can actually get a card issuer to lower your interest rate without doing a balance transfer, for fear that they will lose your interest money to another bank, but if your credit score is low they figure another bank will not extend you the credit and it's full on stick it to you time. LOL|||It is considered a balance transfer which will carry a balance transfer fee (usually around 2 to 3% of the balance). However, if the projected payoff time is a few months or longer and you can get a decent reduction in interest rates, it is usually a good deal to do this.|||You have to do a balance transfer which is going to cost you a % of whatever the amount is. The interest is immediate too, no grace period.





Ask your credit card provider to send you some balance transfer checks if you want to do this.|||No, it is considered a cash advance, with an upfront fee and interest that starts accruing at a higher level and immediately.