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    • katie4
    • By katie4 28th Nov 17, 8:50 AM
    • 35Posts
    • 7Thanks
    katie4
    Balance Transfer Query
    • #1
    • 28th Nov 17, 8:50 AM
    Balance Transfer Query 28th Nov 17 at 8:50 AM
    Hi


    I'm starting to pay off my credit card but the apr is 42% !!!


    Anyone know if my partner has a 0% card can my balance be transfered to his as its not in my name? so i am not paying the £120 interest on top of the repayments




    thanks
Page 1
    • zx81
    • By zx81 28th Nov 17, 8:53 AM
    • 14,331 Posts
    • 15,095 Thanks
    zx81
    • #2
    • 28th Nov 17, 8:53 AM
    • #2
    • 28th Nov 17, 8:53 AM
    In most cases, yes.

    Some lenders won't and never between cards from the same stable.
    • EssexHebridean
    • By EssexHebridean 28th Nov 17, 12:07 PM
    • 8,199 Posts
    • 43,429 Thanks
    EssexHebridean
    • #3
    • 28th Nov 17, 12:07 PM
    • #3
    • 28th Nov 17, 12:07 PM
    First step for you is to join the MSE credit club and see if there are any options recommended for you that might work rather than asking your partner to take on the responsibility of your debt.

    You might also think about posting up a Statement of Affairs (SOA) - the link is in my signature - and we can see if there is anywhere you can make savings that you might have missed, in order to pay the debt off sooner.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£656.45 (20/11/17)
    SOA Calculator for DFW newbies: Stoozing.com SOA Calculator
    • Cotswoldtony
    • By Cotswoldtony 29th Nov 17, 12:19 PM
    • 16 Posts
    • 2 Thanks
    Cotswoldtony
    • #4
    • 29th Nov 17, 12:19 PM
    • #4
    • 29th Nov 17, 12:19 PM
    You did not outline the outstanding balance on your credit card but it must be thousands of pounds if you pay £120 a month interest.
    If your credit is good shop around for the cheapest loan to pay off the credit card balance.
    0% credit card transfers catch up with you in the end.
    • Tarambor
    • By Tarambor 29th Nov 17, 3:40 PM
    • 1,731 Posts
    • 1,191 Thanks
    Tarambor
    • #5
    • 29th Nov 17, 3:40 PM
    • #5
    • 29th Nov 17, 3:40 PM
    Hi


    I'm starting to pay off my credit card but the apr is 42% !!!


    Anyone know if my partner has a 0% card can my balance be transfered to his as its not in my name? so i am not paying the £120 interest on top of the repayments
    Originally posted by katie4
    Yes most definitely. Did this with my son as a way of getting a 0% loan. I purchased car for him on my credit card, he got a balance transfer card and transferred the cost of that purchase onto his card. Et voila, 3 year interest free loan that he can pay, not muggins parent as usually ends up being the case when you take finance out for your kids
    • MallyGirl
    • By MallyGirl 29th Nov 17, 3:44 PM
    • 2,087 Posts
    • 6,948 Thanks
    MallyGirl
    • #6
    • 29th Nov 17, 3:44 PM
    • #6
    • 29th Nov 17, 3:44 PM
    It depends on the lender - Tesco would say No but most others are OK. If he does the BT online he can avoid the question about whether the other card is held in his name.
    He needs to be very sure that he wants to take on the responsibility of your debt - what if you split before it is paid off?
    I'm a Board Guide on the Debt-free Wannabe, Loans & Credit Cards boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    Any views are mine and not the official line of MoneySavingExpert.com.
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