Balance Transfers from different cardholder

Marchie

We have been tarting a £6k debt around for a while now, and we have always applied for cards in my wife's name as she is the biggest earner. Up until now the card companies have always given her a limit in excess of our debt, so no problems. However, she just got accepted for a GE card but has only got a £3k limit, so we need to get another card to cover the balance. Two questions:

1. Is there likely to be any adverse affect on credit rating if my wife now applies for another card, and should we be cancelling one of our other cards first due to the amount of available credit she has (currently £29k, but £6k is all we have used)?

2. Would it be better to apply for a card in my name, potentially getting a lower limit due to my earnings; and is there then any problem with transferring a balance from a card in my wife's name to one in mine?

These questions may be really stupid, but I just want to make sure we make the right decision.

grumbler

Marchie wrote:

1. Is there likely to be any adverse affect on credit rating if my wife now applies for another card,

Every credit application adversely affects credit rating. Searches stay on credit files for 12 months and affect further application for 3-6 months.

and should we be cancelling one of our other cards first due to the amount of available credit she has (currently £29k, but £6k is all we have used)?

Generally speaking, yes.

2. Would it be better to apply for a card in my name, potentially getting a lower limit due to my earnings;

Probably, yes

and is there then any problem with transferring a balance from a card in my wife's name to one in mine?

Usually no problems.

See also:
Your Credit Rating: How they decide and how you find out for free
Should I cancel old credit cards?
Closing credit cards/reducing credit limits - an opposite view
http://www.stoozing.com/credscore.htm