Can I balance transfer from a different named account holder?

greensalad

I am working to clear my debts, and I have a substantial £1600 on a 34.9% Barclaycard. The problem is, the card isn't mine. It's my Mums. She helped me out in a sticky situation and I feel terrible for having debt on her card.. but I guess the past is in the past.

Now my Mum is trying to find a 0% deal, as a default from a while ago has just cleared. I believe her Experian score was "excellent" and now this default has cleared her profile might be a little better.

But I'd really like to take on the debt myself if I can, so it's not hers to worry about.

I've been looking into 0% interest rate cards that I might be able to transfer to. My question is, can I transfer from a card in her name to a card in my name? And can I transfer only PART of the balance? There is a total of £2000 on her card, £1600 is mine.

If not, are there any other ways to go around this? Could I try and get a 0% card in my name and then use it to pay the bill for her CC to essentially transfer the debt?

I'm not even sure if I will be able to get a 0% card but I want to at least try.

[Deleted User]

In most cases, different cardholders is not an issue. And you can BT any amount - it doesn't have to be the full amount.

CLAPTON

greensalad wrote: »

I am working to clear my debts, and I have a substantial £1600 on a 34.9% Barclaycard. The problem is, the card isn't mine. It's my Mums. She helped me out in a sticky situation and I feel terrible for having debt on her card.. but I guess the past is in the past.

Now my Mum is trying to find a 0% deal, as a default from a while ago has just cleared. I believe her Experian score was "excellent" and now this default has cleared her profile might be a little better.

But I'd really like to take on the debt myself if I can, so it's not hers to worry about.

I've been looking into 0% interest rate cards that I might be able to transfer to. My question is, can I transfer from a card in her name to a card in my name? And can I transfer only PART of the balance? There is a total of £2000 on her card, £1600 is mine.

If not, are there any other ways to go around this? Could I try and get a 0% card in my name and then use it to pay the bill for her CC to essentially transfer the debt?

I'm not even sure if I will be able to get a 0% card but I want to at least try.

Most CC allow BT from a card in anyone's name : they just require the 16 digit card number but there are a few who say not.


you can transfer any sum that your new card allows (usually up to 90% of the credit limit)

greensalad

Brilliant thanks for the advice guys.

I'm going to investigate if I can get any of these cards then.

I also have £800 on my own credit card also at 34.9%.

Wondering if I can transfer both onto the same card, if the limit allows? So £2400 on the card. If I can get that on 0% then might be good, but I would need to balance transfer again because I doubt I will pay it off in the time limit (but should be able to make a good dent).

Edit: I have found a card that gives me 25 months with no interest and a fee of £47. I should be able to pay it off in 21 months. Or even sooner, as any unexpected "extras" I get (I do some freelance work) I am putting into this debt. So hopefully more like 18 months!

Edit2: Nevermind, I got rejected. It looks like even though my credit score is OK I'm not going to get anywhere with this. Oh well... back to the 34.9%!

CLAPTON

greensalad wrote: »

Brilliant thanks for the advice guys.

I'm going to investigate if I can get any of these cards then.

I also have £800 on my own credit card also at 34.9%.

Wondering if I can transfer both onto the same card, if the limit allows? So £2400 on the card. If I can get that on 0% then might be good, but I would need to balance transfer again because I doubt I will pay it off in the time limit (but should be able to make a good dent).

Edit: I have found a card that gives me 25 months with no interest and a fee of £47. I should be able to pay it off in 21 months. Or even sooner, as any unexpected "extras" I get (I do some freelance work) I am putting into this debt. So hopefully more like 18 months!

Edit2: Nevermind, I got rejected. It looks like even though my credit score is OK I'm not going to get anywhere with this. Oh well... back to the 34.9%!

credit scores are pretty meaningless


the sort of things that matter are
-your income
-you debts (as shown on your credit files)
-what your credit files show
-electoral roll
etc.

greensalad

CLAPTON wrote: »

credit scores are pretty meaningless


the sort of things that matter are
-your income
-you debts (as shown on your credit files)
-what your credit files show
-electoral roll
etc.

I got rejected, I'm trying to work out where I can improve. I expect it's just my overall debts spread across 3 lines of credit (two overdrafts, one credit card in my name). My salary is good and my repayments are up to date so I don't know why else it would be affected. I've had lots of addressess, maybe it's that?

YorkshireBoy

greensalad wrote: »

I expect it's just my overall debts spread across 3 lines of credit (two overdrafts, one credit card in my name).

Are you in both overdrafts constantly, and for some time? Or are they returned to credit once a month?

I've had lots of addressess, maybe it's that?

Could be. How many over the last 3 years? And were you on the electoral roll at all of them? CLAPTON asked if you were currently on the electoral roll. You didn't answer. Are you?

greensalad

YorkshireBoy wrote: »

Are you in both overdrafts constantly, and for some time? Or are they returned to credit once a month?Could be. How many over the last 3 years? And were you on the electoral roll at all of them? CLAPTON asked if you were currently on the electoral roll. You didn't answer. Are you?

One of them is cleared every month. The other I am chipping away at but it gets reduced by 25% every month (and then used again minus £50).

The other credit card I am putting £100 into a month but will have to use it again come Summer to pay my tax bill. (I was saving my tax in a savings account and then realised I might as well be "saving" it onto my credit card to avoid the £20 interest every month up until I need to pay the tax bill).

And yes, I registered to go on the electoral roll about 6 weeks ago.
I wasn't previously registered. My last registered address would have been in 2009.

Since Summer 2011 I've lived in 4 places.

guesswho2000

greensalad wrote: »

And yes, I registered to go on the electoral roll about 6 weeks ago.
I wasn't previously registered. My last registered address would have been in 2009.

Since Summer 2011 I've lived in 4 places.

There's the issue. If you registered six weeks ago it's highly unlikely it'll be showing in your credit files yet (since its annual canvas time), so I'd keep waiting until it appears (likely in the new year) and try again.

4 addresses since 2011 won't be helping you either, but that's less of an issue than the lack of ER data on your file.

greensalad

guesswho2000 wrote: »

There's the issue. If you registered six weeks ago it's highly unlikely it'll be showing in your credit files yet (since its annual canvas time), so I'd keep waiting until it appears (likely in the new year) and try again.

4 addresses since 2011 won't be helping you either, but that's less of an issue than the lack of ER data on your file.

OK thanks, I'll check my report again when I can to see if it updates and improves it at all.