Quicky Qs - BT My Balance To Partner and DD

Anon

A few quick questions if anyone could help please, as I cannot find the answer (as a suggestion, it could perhaps be a useful idea to have a FAQ at the top of this thread that pulls these type of questions together?):

1. Can my partner transfer the balance of my credit card to her? (trying to roll 0% stooze but I have run out of 0% offers and need to hold off further applications). Do the credit card companies know or care? They only seem to ask for the crard number - can they find out who owns that card from the number or do they not share that information?

2. Also, can we set up a Direct Debit or other payment from my account to pay off her CC each month (we trying to manage our stooze card payments)? Does this make a difference to credit rating or relationshiop with any of the card companies? Would it cause problems for me in the future as I also have a card with Capital One and would be using the same account for payments.

3. Another quick question - I have got into the habit of making the minimum payments and then, shortly afterwards on cards that allow it, BTing the payment amount again to maintain the maximum amount of stooze (as suggested on this board). Does this harm my credit rating and chances of future cards, as although there will be a record of regular payments, the actual balance will not be seen to be reducing?

Many thanks

Anon

Chadsman

1. Yes very easily CC co.s neither ask nor care who has the debt! The only Q is do you trust her not to run off leaving you with the debt :eek:

2. unlikely, unless it is a joint account. Having a joint account establishes a financial link between the two of you (if there wasnt one there already). Any new credit provider would see both good and bad information on both of your credit files when you next apply for credit.
Assuming you can access your current ac over the www you could send a bill payment from your account to her credit card.

3. The only downside to this is that your current CC provider might see you as very short of cash if you need to BT out minimum payments so would be unlikely to give you any more credit increseas ...but the info would not get to the credit reference agencies FWIW I BT out minimum payments where possible reasoning a bird in the hand is better than two in the bush.

HTH
Chad.

Anon

Another quick question - would it actually be better paying of my stooze cards then applying for more or transfering the balance off before closing? Would this improve my credit rating? I was rejected by Halifax recently as they said my debt to earnings was too high (have just over my salary stoozed, therefore appears high unsecured debt but can pay back immediately where required).

As a number of the 0% deals seem to be running out or introducing charges, I didn't know whether to just apply for a few more now to see whether I get rejected, or pay back and wait a while.

Anon

Chadsman

That depends how much debt you have on the go at the time. Being very cautious I dont apply for a new card if I have more than £15k of actual debt at the time... I have never yet been turned down. Others have £100k+ stoozed and still apply for more... and get it :T
But it has to be your decision on what is right for you.
HTH,