Balance transfer between cards in different names

Prince99

Hi,

This may seem like a daft question but nevertheless it's one I can't answer for myself!

I'm looking to BT my credit cards(I have two) but my credit rating isn't great. If a family member takes out a credit card can the balance be transferred onto their card as it would essentially be them buying my debt?

Thanks

grumbler

IIRC, Tesco and Santander are the only companies that insist in the same name.

planteria

i didn't realise that other card providers would allow one person to transfer another's balance... but i am happy to learn something new

a&akay

grumbler wrote: »

IIRC, Tesco and Santander are the only companies that insist in the same name.

What Santander say and what their algorithm currently allows are 2 different beasts. We've successfully BTed £2k, £800, £500 and other smaller amounts since Jan 15 between our accounts in our own names. They also say you shouldn't put your card in credit. I have to the tune of £500 and £800 with no issues, albeit with me owing them something at the time. No guarantee that they won't change it in future but that's the current reality.

grumbler

a&akay wrote: »

What Santander say and what their algorithm currently allows are 2 different beasts.

I agree, but AFAIK you have to confirm that the name is the same, not just give the incorrect name. I don't think that lying is something worth doing when dealing with banks, especially when other options are available.

Shelldean

The only snag to this scheme is the person who ends up with the balance.on their card is the on who is liable for it. And it's that person who will be chased for the debt.
Doesn't matter who spent it, the person who ends up with the balance is responsible.

Works out ok it the two people trust each other etc.

adindas

Majority of CC will allow you to transfer balance from someone else. All you need is their card details. Unless he intends to do and approve it, nobody on this planet earth will want to transfer and own someone else debt ....

Prince99 wrote: »

Hi,
This may seem like a daft question but nevertheless it's one I can't answer for myself!

I'm looking to BT my credit cards(I have two) but my credit rating isn't great. If a family member takes out a credit card can the balance be transferred onto their card as it would essentially be them buying my debt?

Thanks

zerog

grumbler wrote: »

I agree, but AFAIK you have to confirm that the name is the same, not just give the incorrect name. I don't think that lying is something worth doing when dealing with banks, especially when other options are available.

It's the same with Tesco - but I've managed to avoid lying by making myself an extra cardholder on my wife's cards then BTing to them (and vice versa)

The name is not checked very often, even when buying things online with your cards - try entering MICKEY MOUSE as the cardholder name the next time you buy something on amazon and it will probably work

a&akay

grumbler wrote: »

I agree, but AFAIK you have to confirm that the name is the same, not just give the incorrect name. I don't think that lying is something worth doing when dealing with banks, especially when other options are available.

Just says below on the BT option. There's no mention of giving names and I can't think of any reason why there would be. Their wording is just currently incorrect. The payment also goes by FP which is good.

The amount to be transferred must be more than £ 100 and within your available credit limit. You should carry on making monthly repayments to your existing credit/store cards until the transfer appears on those account statements.
The total amount of transferred balance(s) outstanding on your Santander Credit Card may not exceed 95% of your current credit limit. You cannot transfer balances from any other Santander Credit Card or from Cahoot credit cards. Unless we have told you otherwise, you will be charged a handling fee for Balance Transfer transactions of 3% of the transaction (minimum £5).
Funds will normally reach your account within 2 hours if your destination account is with Santander and the request is placed within normal business hours. If the destination account is not a Santander account and the request is received during normal business hours, funds would normally arrive the next working day.