Transfering balances from two peoples cards onto one card

Catherine123

Hi!
I could do with some advice on credit cards. Currently my husband has two in use and I have one. This doesn't make sense so I'd like to put all balances on one card that we can both use. Can you do this? They are with three differant lenders currently.
Also how are we best to go about this, should we transfer all balances onto a 0% card and then have another one to spend on if we need to.
Help!! I haven't looked at/changed credit cards for years!
Many Thanks.

Atidi

Catherine123 wrote: »

Hi!
I could do with some advice on credit cards. Currently my husband has two in use and I have one. This doesn't make sense so I'd like to put all balances on one card that we can both use. Can you do this? They are with three differant lenders currently.
Also how are we best to go about this, should we transfer all balances onto a 0% card and then have another one to spend on if we need to.
Help!! I haven't looked at/changed credit cards for years!
Many Thanks.

Why doesn't the current situation 'make sense' to you? :huh:

Of course, it would usually make sense to transfer debts to a lower interest rate if possible.

grumbler

Catherine123 wrote: »

Hi!
I could do with some advice on credit cards. Currently my husband has two in use and I have one. This doesn't make sense

Why? Many people have several cards. The main problem that you have to address is that you seem to not be paying balances in full each month and thus paying interests that are likely to be pretty high.

so I'd like to put all balances on one card that we can both use.

Balance transfers are not free. What's the point unless it's a card with 0% offer? And if it really is a card with 0% on BTs for N months, you don't want to use it for spending.

Can you do this? They are with three differant lenders currently.

Usually you can, but the main cardholder gets fully and solely responsible for the entire balance.

Also how are we best to go about this, should we transfer all balances onto a 0% card and then have another one to spend on if we need to.

Generally, yes, but again, unless you have a solid plan of paying all balances off when 0% offers expire, this can be a recipe for disaster.

• Balance Transfer Credit Cards

• Spending 0% Cards