Balance Transfer from other person

JoeOfJoedonia

Hi,

I currently have good credit with no debts on credit card.
My partner has debts on credit card with not so good credit.
I would like to take advantage of low fee balance transfer to help her pay this debt off.
Can I transfer her outstanding balance to my card without creating her as a secondary card holder?

TIA.

[Deleted User]

Assuming it's not a card in the same stable, generally yes.

But if she runs off with the milkman, then you're stuck with the debt, not her.

Tixy

Generally the best bet is to do the transfer online if you can.
If you do it by phone some card companies will ask if its in your name, and a few object if you say its not. But if you do it online you only need to enter the card number and amount to transfer.

KingElvis

Yeah we've done this lots of times.

JoeOfJoedonia

Thanks all.

Do you know if this creates a financial association for credit checking purposes?
(Obviously I want it to not)

[Deleted User]

No, it doesn't. You're effectively just paying someone's bill for them, not sharing a debt.

KingElvis

Yep, be sure they persons debt your transferring isn't about to do a runner LOL

Rupinder_Khurana

Hi Joe,

Definitely, this can be done. However, you run the risk of increasing liability of someone else, in case your friend doesn't pay you back. If you are sure enough of getting the money back or you are not worried of losing money or for paying for your dear one, you may do so.

Also as rightly posted by Tixy, the best way to do so is via online transfer rather than by phoning the company.

In case you need further advise, please feel free to contact me.

thenudeone

already answered here http://forums.moneysavingexpert.com/showpost.php?p=46003629&postcount=224