Balance transfer question...

sumguy

My partner owes me a couple of grand and has asked if she could use her new creditcard to balance transfer a balance of mine from Halifax to hers on Nationwide to settle the debt giving her 17 months interest free, mutually we will split the transfer fee.

Could people advise if this is possible please??

gizmo111

Yes its possible but why would you split the fee? Surely its her cost of paying back the debt and she should bear it?

sumguy

I would split the balance transfer fee as a good will gesture... I am happy to be getting the money back quicker than I anticipated.

Could anyone explain the procedure please for this to happen... Would it be best to ensure it is done online rather than phone... Is there anything underhand happening here or are creditcard companies happy for balance transfers from any name so long as some one is paying it??

Thanks in advance folks !

burnsy89

I work for Santander and it isn't possible on our cards! The name on the card of the balance being transferred needs to match the name on the card it's being transferred to. Other banks may be more lenient with their checks but at point of application for a balance transfer we must ask the name on the card from which the balance is being transferred!

If anybody else knows from experience, maybe this is possible with Nationwide! Just be careful though about when you transfer the balance, many cards only allow promotional rates on balance transfers if they're processed within a certain time from the date of account opening so it might be too late to avail of the 17 months interest free if you've had the card for a while!

little_miss_muppet_face

I have done this before, so i know its possible, however i did it from one card which was still in my maiden name to a new card i opened in my married name.. nothing was flagged up as being unacceptable or not allowed, it went through ok.