Why paying credit with credit is a big red flag

Paying credit with credit is a red flag

RICHMOND, Va. (WWBT) - If you are paying your credit card balance with a second credit card, you may be in financial trouble.

Most cards won’t let you pay that other credit card bill outright, but plenty of people have figured out "work arounds,” like getting cash advances. This is a very vicious cycle and a huge red flag when it comes to your finances.

Cherry Dale with the Virginia Credit Union says if you are at the point, you may need help from a financial professional.

“Some financial coaching or sit down and really create a budget for yourself saying ‘Okay, how can I pay these credit cards off?’” said Dale.

It could be time to develop a detailed plan that spells out exactly how and when you can get some of this debt paid off.

A strict budget you plan out for the next year or two can help get the debt under control.

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