millionair Posted October 21, 2010 Share Posted October 21, 2010 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 Link to comment Share on other sites More sharing options...
millionair Posted October 21, 2010 Author Share Posted October 21, 2010 nobody knows? Link to comment Share on other sites More sharing options...
theoldgit Posted October 21, 2010 Share Posted October 21, 2010 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? Link to comment Share on other sites More sharing options...
millionair Posted October 21, 2010 Author Share Posted October 21, 2010 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. Link to comment Share on other sites More sharing options...
theoldgit Posted October 21, 2010 Share Posted October 21, 2010 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"? Link to comment Share on other sites More sharing options...
opalhort Posted October 21, 2010 Share Posted October 21, 2010 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 Link to comment Share on other sites More sharing options...
millionair Posted October 21, 2010 Author Share Posted October 21, 2010 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 Link to comment Share on other sites More sharing options...
angiud Posted October 21, 2010 Share Posted October 21, 2010 Borrow money to give back to another lender. Could become a sort of perpetual motion Link to comment Share on other sites More sharing options...
sas_cars Posted October 21, 2010 Share Posted October 21, 2010 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? Link to comment Share on other sites More sharing options...
flying Posted October 21, 2010 Share Posted October 21, 2010 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. Link to comment Share on other sites More sharing options...
floridaguy Posted October 21, 2010 Share Posted October 21, 2010 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. Link to comment Share on other sites More sharing options...
millionair Posted October 22, 2010 Author Share Posted October 22, 2010 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 Link to comment Share on other sites More sharing options...
aurelius Posted October 25, 2010 Share Posted October 25, 2010 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. Link to comment Share on other sites More sharing options...
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