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Transfering credit card balances between spouses cards

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My hubbie has been on a 0% deal with Santander for the last year which is just about to expire, however if he transfers any money to the card before 26th August the amount he transfers will be 0% for a further 9 months. Can we transfer the outstanding balance to my credit card ( I have enough available balance) and then transfer it back and claim the 0% again?

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  • izools
    izools Posts: 7,513 Forumite
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    pullup wrote: »
    My hubbie has been on a 0% deal with Santander for the last year which is just about to expire, however if he transfers any money to the card before 26th August the amount he transfers will be 0% for a further 9 months. Can we transfer the outstanding balance to my credit card ( I have enough available balance) and then transfer it back and claim the 0% again?

    Yes you can, but remember doing this you will be charged two lots of transfer fees.

    Assuming 3% transfer fees each way this would equate to 6% atop the balance, over 9 months = an APR of 8% given the fees you'll pay.

    If the balance is likely to last longer than the standard interest free offer, have you considered taking out a rate for life card?

    Have a look through this list to see if there may be a more suitable card for the balance:

    http://www.stoozing.com/lob.php

    Good luck! :o
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  • splatt30
    splatt30 Posts: 339 Forumite
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    You can but 2 things.
    First as izools has said 2 sets of transfer fees.
    Second Santander can be a bit funny about the names on the cards. If you arrange the transfer online there seems to be no questions asked. However on the telephone they asked my hubby what name was on the card. Now we were transferring a balance from my credit card account on which he is a secondary card holder, so he said the card had his name on (not a lie, although technically the account is in my name and I use my maiden name) and it went through fine. But I've read others on here have difficulty with this. Only with Santander mind you. Have transferred between accounts with different names before without questions.
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