Can I transfer a relative's credit card balance to my card?

In order to help out a relative temporarily I am hoping to transfer part of their outstanding credit card balance onto my card. I have a 0% offer for 26 months with HSBC with a low balance transfer fee - which means this is cheaper than losing the interest on the funds. They will pay me back within the two year period.

Is it possible to transfer a balance from a family member onto your card with HSBC? I presume so - but just wanted to double check!

Replies

  • MallyGirlMallyGirl Forumite, Senior Ambassador
    5.9K Posts
    Ninth Anniversary 1,000 Posts Name Dropper Intrepid Forum Explorer
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    if you do it online it works, if over the phone they might ask if account is in your name and it might fall at that hurdle.

    usually comments will follow about being prepared to not get the money back - never lend to friends and family, etc, etc.
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected].
    All views are my own and not the official line of MoneySavingExpert.
  • pascal22ppascal22p Forumite
    28 Posts
    Fifth Anniversary Combo Breaker
    Forumite
    I have done it several time online without any problem. I have also done it in branch where I opened a balance transfer credit card to offload some of my partner debts. I did told them what I was doing. I have just been reminded of the consequences and that's all.
  • faddyfaddy Forumite
    508 Posts
    MallyGirl wrote: »
    if you do it online it works, if over the phone they might ask if account is in your name and it might fall at that hurdle.

    Though if you fibbed they'd have no way of knowing?
  • it depends whether they are offering 0% balance transfer, but usually they will charge 2% somehow!
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