Balance transfer from my wife's credit card

MARKSPICE

Hi


My wife has an old HSBC credit card with a very high interest rate. As my credit history is better I decided to get a new 0% balance transfer card to take the debt in my name and gradually clear it off.


I have been accepted for the 0% card with Halifax, which is on it's way to me. However, I had an email today to advise that the balance transfer, which I asked for as part of the application process has 'failed'.


I will wait for the card to arrive and try the balance transfer again.


I just wondered if anybody has a similar experience. Could it be because the balance transfer is from a card that is not in my name?


If it doesn't work next time I will cancel the card immediately so a bit of a waste of time all round!


Cheers


Mark

thebritishbloke

I found this in the terms for the BT card from Halifax:

14.9 If you ask us to make a Balance Transfer we need to approve your request. Once we approve your request, we will transfer the agreed amount from your account the same day and use the Faster Payment Scheme if it is available and the lender you are transferring the funds to is a member of the Faster Payment Scheme. The payment will normally reach the other lender by the next business day.

14.10 If the lender you are making the transfer to is not a member of the Faster Payment Scheme we may not be able to carry out your request for a Balance Transfer.

14.11 If we cannot make the transfer using the Faster Payment Scheme then you can contact us to see if there is any other method available to make the transfer.

I'd have a guess that just failed with HSBC. Contact Halifax and ask them what exactly the problem was, hopefully they'll be able to sort it.

vinny_vimto

I have paid my wifes cards on my balance transfer although different banks to halifax and hsbc. If they dont allow this fluid mbna will transfer the cash into your account 4% charge. Might be woth a a go if you dont have any luck