MBNA Deal

emmajayne1982

Hello lovely money-savers,

I have a quick question about the new MBNA 18 month deal...

I have just applied to transfer the balance I have from an existing credit card left over from a holiday and some whooping car repair bills. Anyway, they approved my application and gave me a rather hefty credit limit :cool:

My partner is currently struggling with some of his credit cards and I don't think will be approved my MBNA so I was wondering if you know whether I would be able to transfer his balances to my card...even though we are not yet married/have a joint account etc?!

Thanks very much in advance xx

[Deleted User]

Yup. As long as you trust him not to run off with your best friend, you can do this, Once the debt is transferred, it's yours, no matter what.

david39

Yes, you will be able to transfer his debts to your card but heed carefully what ZX81 said.

This board is littered with "What can I do about it?" questions from people who have done exactly what you are proposing and then lived to regret it when their partnership goes sour.

The debt becomes your sole debt and your partner is then no longer responsible for it, even if you split up. If you do go ahead with it, make sure that your partner, with his now empty credit card, does not run up another excessive debt with it.

Rupert_Bear

emmajayne1982 wrote: »

Hello lovely money-savers,

I have a quick question about the new MBNA 18 month deal...

I have just applied to transfer the balance I have from an existing credit card left over from a holiday and some whooping car repair bills. Anyway, they approved my application and gave me a rather hefty credit limit :cool:

My partner is currently struggling with some of his credit cards and I don't think will be approved my MBNA so I was wondering if you know whether I would be able to transfer his balances to my card...even though we are not yet married/have a joint account etc?!

Thanks very much in advance xx[/QUOTE

Personally I would not take on some of his debt.Why is he
struggling. Whats to stop him again running up debt.

Remember when it comes to money love can be so fickle.

chattychappy

Yep, plenty of "health warnings" here. Of course it can work very well and save a lot of money. People generally only come here when it's gone wrong. I've certainly done the same thing with girlfriends and family members and haven't been burnt. We've even agreed interest - something between what I pay (if anything) and what they would pay - so we're both benefiting.

If you did want something to be legally enforceable, then you should do it in writing, signed, ideally witnessed and even better if you can get a solicitor to do it. The CC would still come after you, but you would have recourse to the errant partner. (Whatever that's worth in the circumstances!)

Oh and one more point. Could be a good test of a relationship! If it's not too much then perhaps better to find out now rather than later if there are going to be problems... My sister lent £200 to a boyfriend on the basis he would pay back weekly. Of course he didn't - lots of bluster. She looked at it a rather cheap way of finding out he couldn't be trusted!

Now she's hitched up with another bloke who is hopeless with money. So she handles all the finances. He has no CCs, and she takes his income and gives him pocket money. Sorted!

emmajayne1982

Thank you all very much for the advice.
I trust him completely and to be honest the debt is very much mine as well which has come from a very expensive 2010.
Great to know I can transfer his card so thanks for all your prompt replies x