Q: Can I pay my credit-card bill with a credit card?
A: Technically, yes you can. Some online bill paying programs give you the option to pay all of your bills with a credit card.
You could take a cash advance on one card, deposit that money into your bank account, then write a check to make the payment on another card. So yes, sadly, you can pay your credit-card bill with a credit card.
But may you do it? Not if you're asking me, which I believe you are. No, you may not!
That would be so dumb because while it might keep you out of hot water for a precious few weeks or months, eventually it's going to come back to bite you. If you can't keep up with the first card, what makes you think you'll be able to handle balances on two card accounts?
Instead of that nutty idea, you need to go on a spending freeze, sell assets, get another job or do whatever you must to keep your payments current and that balance paid in full and I mean sooner rather than later.
Excerpted from Can I Pay My Credit Card Bill with a Credit Card? And Other Financial Questions We're Too Embarrassed to Ask! (DPL Press, Inc., 2009)
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