Transfer third party debt to new and best 0% card

MakingEndsMeetToo

I know this question has been asked before, but I am looking for current advice on transferring debt from two existing cards held by a third party to a new 0% card with the best deal.

Thanks.

ThisnotThat

My advice would be don't do it.

Ebe_Scrooge

What is your question?  Look here for the "best buy" cards : https://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards/

Apply for one, if you're accepted then do the transfer.

SuperAllyB

Never had a problem transferring from my wife's credit cards (things like holidays etc) between various providers but haven't done it for a while.  Easier to do it online if the names don't match.

born_again

So you are going to be taking on a 3rd parties debt?

kaMelo

MakingEndsMeetToo said:

I know this question has been asked before, but I am looking for current advice on transferring debt from two existing cards held by a third party to a new 0% card with the best deal.

Thanks.

It is possible and the best card would be the one with the longest 0% deal.
The most important advice however is that by transferring the debt to a card in your name you become legally liable for the debt in it's entirety and you should assume you will be the one paying off the debt.
If you're comfortable with that then go ahead.
If you have any doubts or concerns with that assumption then don't do it.

MakingEndsMeetToo

born_again said:

So you are going to be taking on a 3rd parties debt?

Yes, and I appreciate and understand the risks and I'm prepared to accept them.

MakingEndsMeetToo

Follow-up question - are there any cards that expressly don't allow third party transfers? Thanks.

Sandtree

MakingEndsMeetToo said:

Follow-up question - are there any cards that expressly don't allow third party transfers? Thanks.

There are really two questions....

Are there any that expressly dont allow TP transfers? - Yes
Are there any that explicitly dont allow TP transfers in writing but do actually allow you to do them in practice? There certainly used to be, in fact most that said you couldnt allowed you to in practice before OpenBanking came in. Unfortunately not tried any transfers since then to know if card companies are doing more checks or not.