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Balance Transfer Query

katie4
katie4 Posts: 459 Forumite
Part of the Furniture 100 Posts Name Dropper I've been Money Tipped!
in Debt-free wannabe
Hi


I'm starting to pay off my credit card but the apr is 42% !!! :mad:


Anyone know if my partner has a 0% card can my balance be transfered to his as its not in my name? so i am not paying the £120 interest on top of the repayments




thanks

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,383 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    In most cases, yes.

    Some lenders won't and never between cards from the same stable.
  • EssexHebridean
    EssexHebridean Posts: 25,883 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    First step for you is to join the MSE credit club and see if there are any options recommended for you that might work rather than asking your partner to take on the responsibility of your debt.

    You might also think about posting up a Statement of Affairs (SOA) - the link is in my signature - and we can see if there is anywhere you can make savings that you might have missed, in order to pay the debt off sooner.
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
  • Cotswoldtony
    Cotswoldtony Posts: 59 Forumite
    Sixth Anniversary 10 Posts Combo Breaker
    You did not outline the outstanding balance on your credit card but it must be thousands of pounds if you pay £120 a month interest.
    If your credit is good shop around for the cheapest loan to pay off the credit card balance.
    0% credit card transfers catch up with you in the end.
  • System
    System Posts: 178,424 Community Admin
    10,000 Posts Photogenic Name Dropper
    katie4 wrote: »
    Hi


    I'm starting to pay off my credit card but the apr is 42% !!! :mad:


    Anyone know if my partner has a 0% card can my balance be transfered to his as its not in my name? so i am not paying the £120 interest on top of the repayments

    Yes most definitely. Did this with my son as a way of getting a 0% loan. I purchased car for him on my credit card, he got a balance transfer card and transferred the cost of that purchase onto his card. Et voila, 3 year interest free loan that he can pay, not muggins parent as usually ends up being the case when you take finance out for your kids :D
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • MallyGirl
    MallyGirl Posts: 7,516 Senior Ambassador
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    It depends on the lender - Tesco would say No but most others are OK. If he does the BT online he can avoid the question about whether the other card is held in his name.
    He needs to be very sure that he wants to take on the responsibility of your debt - what if you split before it is paid off?
    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 forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
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