can i use 2 credit cards to pay for each other?
is that possible? if not, isn’t it a loop hole? no crazy interest borrow monei from c1-pay with c2 when billed and clear it-pay c2 with c1 when billed-continue until you can pay the whole thing off without any interest
This will never happen. You cannot pay for 1 credit instrument with another credit instrument. It leads to a revolving credit problem. This is solved and is designed in that way.
ok hear me out, what if i put the money to my demat account (say groww), and refund it to a saving account(not investing) - now i use the saving account to pay for the cc debt and the cycle continues
or or - i buy something on amazon/flipkart, and cancel it and request the refund to a saving account and keep running the cycle
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You cant put money in demat with cc, you generally dont get refund on your bank acc when u pay w cc
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Your idea is as brilliant as a black hole. It's not a loophole, it's a noose. "Chakravyuh mein phas jaoge." Why not earn honestly instead?
Bhoom
Student
6 months ago
When you use 100% of your brain
steppenwolf
Stealth
6 months ago
You cannot do that. Credit cards don't allow payments to other credit cards. You need to withdraw from 1 card and then you can pay. But you will be charged 2-3% as fees.
steppenwolf
Stealth
6 months ago
I don't know in that case. But I don't think they will allow it.
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