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#1795371 - 03/15/13 05:36 PM credit card to make loan payment
CSB98 Offline
Diamond Poster
Joined: Dec 2003
Posts: 1,337
Wisconsin
Does anyone know where in the new VISA Operating Guidelines it specifically says that you cannot make an advance on a credit card to make another loan payment? I'm having a hard time finding it.

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Lending Compliance
#1802692 - 04/09/13 02:50 PM Re: credit card to make loan payment CSB98
Book Nerd Offline
Gold Star
Book Nerd
Joined: Jun 2007
Posts: 447
New England
I'm not sure how old this is, but this is what I have:

5.2.F Prohibitions
A Merchant must not:

Effective October 4, 2008, accept a Visa Consumer Credit Card or Commercial Visa Product, issued by a U.S. Issuer, to collect or refinance an existing debt
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Sometimes the questions are complicated and the answers are simple. - Dr. Suess

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