Balance Transfer between Husband and Wife

pleasy

Hi,

I wonder if someone could confirm to me whether it's possible to transfer a balance transfer from my account to my wife's credit card account? I ask because I was about to apply for a card with a very good deal on balance transfers, but since I am self employed and only starting up I might only get a low credit limit. Whereas my wife currently earns more than I do but she has no credit card in her name - yet.

We have no history of poor credit/bankruptcy/default or anything like that.

Any help would be much appreciated.

pleasy

pleasy

Can anyone assist?

thenudeone

Usually it's not a problem but a few lenders may be restrictive - eg: Santander will only allow BTs of balances held in the main cardholder's name. Others will allow BTs from balances in the additional cardholder as well as the main cardholder.

So you need to read the terms carefully.

You would have the opportunity to read them before you commit to an application, so it shouldn't be a surprise.

opinions4u

If you just write the card number on the form there's a reasonable chance it won't get picked up.

oki25

opinions4u wrote: »

If you just write the card number on the form there's a reasonable chance it won't get picked up.

Most companies are quite happy to process just using card number, name shouldnt be an issue, don't mention it

pleasy

Thanks very much for all the help. It's much appreciated. :beer:

InsideInsurance

They will have no idea whos card it is you are transferring the funds to. But your wife will become 100% liable for the debt irrespective of whos debt it is they are transferring

thenudeone

InsideInsurance wrote: »

They will have no idea whos card it is you are transferring the funds to.

They will if they ask you!

If they ask you and you lie about it, you'd be committing fraud, although it's unlikely you'd ever get found out and even less likely that anyone would do anything about it; but it's still fraud.

tyllwyd

We transferred a debt from a card in my name to a card in my husband's name. When doing the transfer they asked for the name on the other card so he told them. They asked him several times whether he was aware that this meant that he was taking responsibility for the debt and was he happy to do that, but otherwise it wasn't a problem.

Idiophreak

I've done it countless times and never had an issue, never been asked for the name of the other account. Never even thought about it

jamesd

I've never been asked who the account holder is. Just do it. If asked tell the truth without any attempt to hide it. What you're doing is completely understandable even if one particular card happens not to like it.