Credit Card Bills

[millionair]

Hello members

is it possible to pay my Thai credit cards bills with another Thai credit card?

what are the charges for that?

regards

millionair

[millionair]

nobody knows?

[theoldgit]

Wouldn't have thought it was a sensible thing to do, I cannot see the benefits of doing so.

Weren't you trying to get Thai credit cards recently, how did it go?

[millionair]

Wouldn't have thought it was a sensible thing to do, I cannot see the benefits of doing so.

Weren't you trying to get Thai credit cards recently, how did it go?

yes i got cards from all the banks now.total 8 cards.

was just trying to figure out how i can use these credits.

[theoldgit]

But using one card to pay another is pretty unwise and and an expensive way to build up debt.

Have you heard the expression "robbing Peter to pay Paul"?

[opalhort]

Actually it can make sense paying the bill of one card with an other one depending on billing cycle.

This way you can manage to get credit for up-to almost 3 months at no extra costs.

The SCB does allow payment by card but only if the card used to make payment was also issued by the SCB, not by other banks issued cards.

opalhort

[millionair]

Actually it can make sense paying the bill of one card with an other one depending on billing cycle.

This way you can manage to get credit for up-to almost 3 months at no extra costs.

The SCB does allow payment by card but only if the card used to make payment was also issued by the SCB, not by other banks issued cards.

opalhort

thanks i will check at the call centers.if they have any extra cost or not

[angiud]

Borrow money to give back to another lender. Could become a sort of perpetual motion

[sas_cars]

Wouldn't have thought it was a sensible thing to do, I cannot see the benefits of doing so.

Weren't you trying to get Thai credit cards recently, how did it go?

yes i got cards from all the banks now.total 8 cards.

was just trying to figure out how i can use these credits.

8 thai credit cards? That's quite a success. What bank are these?

[flying]

Borrow money to give back to another lender. Could become a sort of perpetual motion

Folks use to do this in the US

The system was to use the checks that credit cards give out & pay off the balance of the card before it was 1 cycle old.

Thus it incurred no finance charge. You could circle the debt round & round without it growing.

If you had 3-5 cards with high limits folks use to actually do some rather large schemes.

In fact you ended up with a great credit rating because you paid large balances each month in full.

But like all good/shady things it came to an end.

The banks saw what it was & then started a transfer fee.

These pay-offs are now considered what they are...transfer of balances with a 3% or more fee.

So now these do grow even faster than a good finance charge.

But stay away from credit cards...they are the devils toys :lol:

Of course you & I need them to move about the world but .....carry no balances.

[floridaguy]

Borrow money to give back to another lender. Could become a sort of perpetual motion

Folks use to do this in the US

The system was to use the checks that credit cards give out & pay off the balance of the card before it was 1 cycle old.

Thus it incurred no finance charge. You could circle the debt round & round without it growing.

If you had 3-5 cards with high limits folks use to actually do some rather large schemes.

In fact you ended up with a great credit rating because you paid large balances each month in full.

But like all good/shady things it came to an end.

The banks saw what it was & then started a transfer fee.

These pay-offs are now considered what they are...transfer of balances with a 3% or more fee.

So now these do grow even faster than a good finance charge.

But stay away from credit cards...they are the devils toys :lol:

Of course you & I need them to move about the world but .....carry no balances.

As long as you are responsible and don't push it too far, this is correct. It was one of the tricks I would use to give my clients a quick boost in their credit rating to qualify for a lower home or commercial mortgage. I did it myself a couple of times and it does work. But as flying noted, it usually comes with a fee now. Thai banks may not know about this, as the credit card business is not quite as mature here. Just don't fall into a downward spiral and not pay the charges. Then your credit takes a huge nose dive.

[millionair]

Wouldn't have thought it was a sensible thing to do, I cannot see the benefits of doing so.

Weren't you trying to get Thai credit cards recently, how did it go?

yes i got cards from all the banks now.total 8 cards.

was just trying to figure out how i can use these credits.

8 thai credit cards? That's quite a success. What bank are these?

CIMB,kasikorn,citi,standard chartered,uob,ktc,central,thanachart

[aurelius]

Most banks don't allow it. If you have two cards at the same bank they tend to be sharing the same credit limit. Probably the only option is to cash advance from one to pay the other. Not really productive.