Pay Friend with Credit Card No Fees

Do you want to know about how to pay friend with credit card no fees? There are benefits of paying a credit card to a friend, but the rates may be higher than the benefits. Read on to make sure it is worth following.

Whether you were celebrating recently or you had to borrow money for an emergency, you probably should have given your friends money back at some point. If you do not have enough money available, do not be afraid: you can pay a credit card to a friend, although you may be charged fees.

3 ways to pay a credit card with a friend

If you are looking for ways to pay your friends or family without removing your wallet or hitting an ATM, see your phone. There are some applications to try, and don’t be afraid to use more than one. Sometimes, different friends have different applications, so if you want to facilitate it, be flexible.

1. Cash App

The Cash App, known as Square Cash, is free to download and accept credit and debit cards. The cash application is No. 1 in the App Store, with more than 35 million downloads. You can send or request money using $ Cashtag, a unique identifier so you can make private and secure payments. You can use a credit card to send money, but there is a 3% transaction fee. The application can be used differently.
Once you have downloaded the application and created an account, enter the dollar amount you wish to send and configure. The person to whom you are sending money needs the application and you must enter your phone number, email or $ Cashtag to make sure your money receives the right person.
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2. Venmo

Venmo requires that you register your Facebook through Facebook or your email. But it is free to use and there is no charge for transferring money with a debit card. However, there is a 3% fee for sending a credit card.
You and the friend to whom you send money have the Venmo application so you can send the payment. An important differentiator means that Venmo can see public transactions through a news announcement. You can verify what your friends and family pay, if they allow it to be public (the private option is the transaction, if you wish).

3. PayPal

PayPal is one of the oldest services to send and request money electronically. You must sign a free account and link a credit card to send money. Paying with a credit card will cost 2.9% plus 30 cents for each transaction (or more, if there is a currency conversion).

The friend with whom you are sending money will need a PayPal account. It is a bit easier to use compared to your other options, especially because PayPal offers much more than sending electronic payments to friends. Most of its services are focused on business.

Is it worth the fees?

People always ask if PayPal, banks and other apps are worth paying the fees. The aforementioned applications charge fees for using a credit card. Before paying a credit card with your friend, think about the additional amount you pay to do so. For example, the Cash application charges a 3% transaction fee for using a credit card. That means a $ 100 payment with a friend, you will pay $ 3 in fees.

If you use this application frequently, those rates may apply: only $ 6 per month each month is $ 72 per year. This is a good place for courtesy by paying a credit card, especially since a debit card is usually used. If you prefer to pay your credit card to a friend because you can earn rewards and points, do the math to make sure you are not spending more than you earn. If you pay 3% in transaction fees but only get 1.5% refund in prizes, you will be left behind. In that case, it may make sense to use a debit card to pay friends for free.

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