We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
balance transfer
lillibetmac
Posts: 1 Newbie
in Credit cards
my son is in australia for a year and he has been using a credit card i want to know if i can do a balance transfer from his account to a new card in my name so i can help him so that he does not incur charges can i do this:A
0
Comments
-
depends on cards involved..0
-
You can switch credit card balances from family, friends or Dave down the pub. You should be aware though, that the person whose card his balance is shifted to, becomes solely liable for the debt.
From the lender's perspective, it's not a problem. If you request the transfer by phone, customer services may ask for the name on the card, but this is purely an additional verification check. At the end of the day, the card company is after your business. They're not really interested in knowing who ran up the debt, as long as you, their customer, pay up on time each month!
Caution: same restrictions apply as when arranging a BT between your own credit card accounts (ie.you cannot transfer balances between cards underwritten by the same bank.) This table on the stoozing site (which is sponsored by Money Saving Expert) should help:
http://www.stoozing.com/cards.htmPeople who don't know their rights, don't actually have those rights.0 -
As stated most cards allow you transfer balance from whereever. It is the business that they are after0
-
The posts above are fine if your son is using a credit card issued by a UK institution.
If your son is using a credit card issued in Australia, then the only way you can transfer the balance to you is by obtaining a Virgin credit card.
This card allows you to transfer money directly to your bank account at 0% interest for 16 months for a 4% fee. You could then transfer the money to your son's Australian's bank account, and he would pay off the credit card this way.
Keep in mind that once you do this, the debt is 100% yours, and you will have no legal recourse to make your son pay.You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0 -
Would be a nasty piece of work if the son didn't pay his mam back.0
-
Would be a nasty piece of work if the son didn't pay his mam back.
I think I watch too much Judge Judy!You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards