Balance transfer cards

Spinjo

I am trying to help a friend who is in debt. They have got debt on 2 credit cards as well as a bank overdraft.

I am looking at applying for a balance transfer credit credit card and trying to put as much debt on this card with 0% interest. If I am unable to transfer the whole amount from the two cards, are we able to apply for another balance transfer card and transfer the rest on to this?. Or are you only able to have one balance transfer card with 0% interest at one time?.

Any advice would be much appreciated.

eskbanker

Spinjo wrote: »

Any advice would be much appreciated.

If you're really talking about you taking on their debt (implied by all the I/we language) then the most obvious advice is don't try to get involved with someone else's debt, it rarely ends well and often ends the friendships themselves.

It would be far better for them to sort out their own issue, starting on the debt-free wannabe board for advice and guidance about how best to go about this.

But the short answer to your question is that it's possible to have as many balance transfer cards concurrently as the account-holder's credit status will allow.

[Deleted User]

Who is applying for the cards?
In your name or your “friends”?

Spinjo

The cards are in my friends name. I am just helping them with the process as they are an elderly person.

Craig1981

to clear the balances you will need to get a money transfer card - a balance transfer card will on help with the credit card amounts, not the overdraft

some card companies offer both

you can have more than one BT or MT card, but will depend on individual circumstances and credit history

Nebulous2

Have you tried an eligibility checker - such as the MSE one, to see their chance of getting a card?

If applying for more than one, then it is often recommended to do the applications very close together. After two the hard searches on the record will begin to have an impact on the likelihood of being accepted.

Rockye

You need a eligible money transfer card.