Credit card question

wrighty_3

I have asked in the debt free forum but not getting much joy with an answer to this one.

Is it possible to transfer my credit card balances to a credit card that is in another persons name?? My brother has kindly offered to get a capital one card (0% til aug 2007) in his name and transfer the balances over and I set a direct debit up from my account to his every month. Is this possible as my rating is poor so i cant get good rates on cards?

Many thanks

HGLTsuperstar

Yes of course you can transfer to a different card holder but, and don't take this the wrong way this is a general note for all, the debt then becomes that of the other person and, in theory, if you decided not to pay your brother back then legally he would not have a leg to stand on. That is why any "loan" between family/friends is potentially a relationship killer.
With regards to your remark about your credit rating, that is irrelevant in your brother getting a CC and doing a BT, so if his rating is OK then no probs.

wrighty_3

We are quite a close family so this is not going to be an issue for us, I just will owe him mega in the future!!! Many thanks for the advice though!!

HGLTsuperstar

p.s. hit the thanks button?

wrighty_3

just did it!! Sorry :-(