Husbands balance transfur

2naughtycats

Hope someone can give me advise?

My husband has one of those "bad credit" credit cards which he is paying well over the minimum payment every month. He wants to get this payed off asap (he owes about £700). Obviously the interest rate (39.9%) is hampering all his good efforts.

So that he can get this cleared I was thinking of getting a 0% BT cards and putting this debt on that card, then he can pay me every month so I can make the payment (yes, I do trust him"!). My questions are:-

1. Is this even legal?

2. I paid off a cc in someone Else's name would I still qualify for the 0% ?

Any advise would be greatly appreciated.

Fruit_and_Nut_Case

Hi 2naughtycats. I love the appropriate typo "transfur".

This would be absolutely legal. The question is asked several times per week; husband to wife, brother to sister, mother to daughter, etc.

The advice is always to arrange the transfer online and never volunteer the information that it's not the same person. If you do it by phone the call centre person might just decide that they won't let it go through.

Ususal provisos though. You will become responsible for repayments so it's good that you trust him. Transfer must be between different card providers.

Good luck!

thenudeone

Not all card issuers will allow a transfer of a balance in another persons' name - you need to check exactly what the offer says.

jon142

thenudeone wrote: »

Not all card issuers will allow a transfer of a balance in another persons' name - you need to check exactly what the offer says.

Can you name one that dosn't? as far as i now they ask for the card number only. not names!

thenudeone

jon142 wrote: »

Can you name one that dosn't? as far as i now they ask for the card number only. not names!

Certainly.

Santander Zero only allows transfers of balances held by the primary cardholder.

Just had an offer this week from them
http://dl.dropbox.com/u/32452337/Santander.jpg

But I must admit it's unusual to restrict offers like this.