a question needs to be answered question, answered, needs

yungfourfour

do you guys pay your bills at bank by swiping credit cards?  Something just came up to my mind and someone yet to give me a definite answer to the following situation:


I pay $3000 for tuition using credit card A, bill due on June 30
on June 30, I use card B to pay my $3000, there'd be no interest charge on card A and the due date deadline will prospone to July 31st
and on july 31, I use card C to further prospone the deadline to Aug 31st
and then on Aug 31st, I use my card A again.

is there any policy prohibiting payment this way? I mean, by swiping your cards for bill is not considered as a cash advance is it?  and I'm not doing the bills back and forth alternatively, instead I am just going 1 direction, every 3 months.

Further

If all 3 cards are 1% rebate type, each month of transaction there'd be a 1% rebate.... so instead of paying interest... I actually get cash back?

Please give me some definite answer ( no personal offense please)

yungfourfour

Thanks
sounds reasonable

Just to further clarify my last concern
my credit cards actually allow transfers by filling out a form when I log in online

For the bank ones... I don't know because I don't have a bank visa/mastercard
say if you do, wouldn't that show up in your "my account" thing and you can do you payment by selecting the "credit card A" payee and select your "credit card B" account to pay?

yungfourfour

2 friends of mine and 1 relative of mine who worked in a bank ( Scotia, CIBC, TD) all say that they charge interest as cash advance IF you pay bills with credit card on counter. HOWEVER, once those bills are pre-authorized (e.g. your hydro bills, fido bills, MSP, insurance that you set payees online) over your account/ card then they DON't charge you interest; instead they'd just swipe the amount and treat it as an end-of-month/ regular time payment.

Of course whether or not they allow you to preauthorize a card payment from another card would be rare.

See I totally agreee LYK's opinions and I'm not trying to prove anything, but it's just that the more information I get here, the more clear it gets instead of assuming they don't work at all.

Thanks everyone!

[ 本帖最後由 yungfourfour 於 2008-5-23 22:51 編輯 ]