Paying off credit card via bpay with another card (and earning QFF points)

[kko]

Something just occured to me.
Say I have two credit cards, one in bank A, another in Bank B, and I got my monthly statement from bank A for $1000.

If bank A allows me to pay off that $1000 via BPAY and bank B allows me to pay with BPAY (and earn Qantas points on it) that it sounds like a logical thing to do. Pay one card off with the other, via BPAY, and get some extra Qantas points in the process.

This sounds like one of those things that are kind of too good to be true so is there a fatal flaw in that logic? Or has anyone successfully done this?

 

[lovetravellingoz]

is there a fatal flaw in that logic?

Only the Banks.

 

[esseeeayeenn]

Something just occured to me.
Say I have two credit cards, one in bank A, another in Bank B, and I got my monthly statement from bank A for $1000.

If bank A allows me to pay off that $1000 via BPAY and bank B allows me to pay with BPAY (and earn Qantas points on it) that it sounds like a logical thing to do. Pay one card off with the other, via BPAY, and get some extra Qantas points in the process.

This sounds like one of those things that are kind of too good to be true so is there a fatal flaw in that logic? Or has anyone successfully done this?

I don't know if BPay provides a workaround, but the government did prohibit using one credit card to pay off another.

 

[kko]

Yup. Indeed while you can pay it off via BPAY you cannot use credit card to do so Pay bills with BPAY - BPAY

This Biller accepts
Cheque, Savings or Debit Card

 

[Aussie_flyer]

It's sort of cute how you thought this might be possible

 

[kko]

It's sort of cute how you thought this might be possible

I'm new to this

 

[esseeeayeenn]

It's sort of cute how you thought this might be possible

Well it used to be until the government prohibited it. Something about protecting people from themselves.

 

[Renato1]

On my ANZ FF Visa card, using Bpay incurs the same fees as a cash advance - so that even if it did earn points on Bpay (which it doesn't) they wouldn't cover the cost of the cash advance.
Regards,
Renato

 

[Dr Ralph]

Even if it was possible it would be considered a cash advance, which would defeat the purpose.

 

[JohnK]

Well it used to be until the government prohibited it. Something about protecting people from themselves.

Well they failed.

- Pay $1000 + interest amount to credit card A. Interest amount varies from credit to credit card.
- Balance transfer $900 from credit card A to credit card B
- Balance transfer $800 from credi card B to credit card C
- Balance transfer $700 from credit card C to credit card D

etc etc. See a pattern? Net debt increases every month and after 8 years credit card debt has grown by >50%. Credit card providers should be proud of themselves for their contrubution to society.

 

[ashleyn]

Basically, using credit to pay credit is illegal in Australia.

 

[JohnK]

Then someone had better tell them that balance transfers are illegal.

 

[trippin_the_rift]

If governments really cared they would cap the total lifetime interest that can be charged on a dollar charged to the card. Or if you didn't pay the entire balance then limits couldn't be increased.

 

[esseeeayeenn]

If governments really cared they would cap the total lifetime interest that can be charged on a dollar charged to the card. Or if you didn't pay the entire balance then limits couldn't be increased.

I remember when I went back to study my graduate law degree and lived on a student income again the ability to cycle money thgrough credit cards was very useful.
I actually think the "reform" which banned it was well intentioned but poorly thought through. It certainly made my life more difficult at the time.

 

[Shanye2233]

It's sort of cute how you thought this might be possible

Anything is possible darren

 

[PLANT]

I'm a balance transfer junkie from way back
Thank goodness for Citibank cheque to help me get the next transfer on the card I current have interest free