Can you transfer a balance from one name to another?

Natlou_2

Hi there - Just a quick question from a newbie, any advice appreciated!

Most of our debts are in my OH's name and with quite high interest rates, we have tried to get lower rate cards, but because of the amount of debt, OH can't get any 0% or low rate cards.
I however it seems have no problem getting credit (Ive just been accepted for the 0% egg card through Quidco to get my £35 cashback) - Can I transfer a balance in his name onto a card in my name?

Thanks very much for any help you can give

immoral_angeluk

Yes. I BT's my husbands credit card balance on to a new 0% egg card I took out and it went through no problems at all.

Natlou_2

Thanks IA, Its worth a try, it just means i'll have to split a debt as the three cards we have all have big balances, and they will probably give me a smaller limit - so it means going from 3 CC's to 4 but the snowball will look better as the biggest debt is 27.9
%:eek:

immoral_angeluk

IT was a similar case with us.. Dh's apr was 27.9 too... like they say every little helps!

HairyHandofDartmoor

Yes, I've done it too. I had no debts in my name, so we balance transferred £6000 at 17.9% from my OH's egg card, onto my M%S card at 3.9%!! A slight improvement as I'm sure you will agree!

Five and a half months later, I rang M&S and they agreed to raise my credit limit to £8000 and I balanced transferred another £1700 onto it from another of OH's high interest cards (at 3.9% again). Very satisfying it was too!

So go for it!

madmoney_2

27.9%! daylight robbery!!:eek:
good luck with your bts xxx