credit card balance transfers

taffee

Can anyone please help.

Miss X has a £9,000 debt on her Barclaycard. In order to reduce the high interest rate on her card is she able to transfer that amount onto a credt card of mine (her brother) and then transfer it back to Barclaycrad at 2.9% life of transfer.

Or alternatively can anyone recommend another option.

Thanks :

zcaprd7

Yes - as long as the other person you don't mind carrying her debt...

There will also be a few days interest if you are doing a non promotional balance transfer whilst you wait for the cash to clear.

Unbelievable_2

tafee

Your sister would need to check her terms and conditions. The current Barclaycard offer seems to only allow a maximum of £5000 at 2.9%, and charges a 2% fee. Your sister might have a different deal so she really needs to check before you do the biz. ???

svmitche

Would she be in a position to open another card like Capital One for example where she can get a good 'life of balance' rate (depending on the limit).

Or alternatively, is she in a position to get a low rate loan (Liverpool Victoria, Cahoot, Northern Rock)?

I know you wish to help your sister out, but beware uncomfortable financial dealings between family members!!!