We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Balance transfer - basic question
sfjnet
Posts: 99 Forumite
in Credit cards
Many apologies if this has been answered elsewhere, but I can't find it if so!
My basic question is - is it possible (assuming my credit history allows) for me to open a new credit card for balance transfer and then transfer the balance from my partner's card instead of my own? She has a card with a very high interest rate so it would be excellent to get that down and actually pay the thing off, but I very much doubt that she would be approved on her own balance transfer credit card thanks to past "indiscretions".
My basic question is - is it possible (assuming my credit history allows) for me to open a new credit card for balance transfer and then transfer the balance from my partner's card instead of my own? She has a card with a very high interest rate so it would be excellent to get that down and actually pay the thing off, but I very much doubt that she would be approved on her own balance transfer credit card thanks to past "indiscretions".
"I got food in my belly
And a license for my telly
And nothin's gonna bring me down"
Paulo Nutini
And a license for my telly
And nothin's gonna bring me down"
Paulo Nutini
0
Comments
-
Many apologies if this has been answered elsewhere, but I can't find it if so!
My basic question is - is it possible (assuming my credit history allows) for me to open a new credit card for balance transfer and then transfer the balance from my partner's card instead of my own? She has a card with a very high interest rate so it would be excellent to get that down and actually pay the thing off, but I very much doubt that she would be approved on her own balance transfer credit card thanks to past "indiscretions".
in general yes as they only generally require the 16 digit CC number but always best to read the small print.0 -
Also remember that if you do this, the debt will become yours. If you and your SO split up, there's nothing you can do to make her pay that debt, it's yours forever.Credit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
Why doesn't your wife apply for a 0% card? Fluid (MBNA) for example do a quotation soft search "Eligibility Check" which won't affect your wife's credit file. The Fluid card is a pretty good deal if you can get it which includes 26 months 0% balance transfer and 3 months 0% purchases.
Probably a better option than transferring your wife's debt to yourself.0 -
Read the T&C carefully.
Santander will NOT allow a transfer like this but most others will.
And heed the advice above. If someone has run up a debt because they can't control their spending, moving their card balance so they can spend again on that card isn't doing anyone any favours.We need the earth for food, water, and shelter.
The earth needs us for nothing.
The earth does not belong to us.
We belong to the Earth0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.2K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards