Credit card transfer advice please

Hi,
My partner has several cards with around £3000 on each. We considered trying to get a 0% transfer but she only has a part time job. I do not process a card but, now have a full time job. I know that I can get a credit card in my name and transfer some of the balance from one of her cards but, here is the question. Would I be able to apply for a 0% interest card and transfer some of the debt from her cards to it. We have a joint account and have done so for many years and believe our credit rating is quite good.

The other option is to take out a 5 year loan, consolidate our debt and end up paying approximately £70 less each month on the credit card repayments. I wanted to explore a way of reducing the loan amount by trying to transfer some of the debt to a 0% card. Any ideas please, thank you

Regards David

Replies

  • If you can obtain a 0% card in your name there should not normally be a problem in transferring her balances to it. Of more concern though is the statement that she has 'several' credit cards with a £3000 balance on each. You don't say how many cards she actually has, so I am concerned as to what the total balance actually is.
    You say you have joint accounts so there is probably a financial link between you. The existence of your partner's debt will be known to potential lenders.
    You also say that you don't currently possess a credit card.
    The fact that you don't currently have a credit card could make applications harder to be accepted and also could affect the credit limit you are likely to get. If we are talking about a 5 figure balance here, don't imagine for one moment you will be given a sufficient credit limit to cover it all or even half of it!
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