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Balance transfer

Do any credit card providers allow balance transfers between husband and wife 

Comments

  • Nasqueron
    Nasqueron Posts: 10,149 Forumite
    Tenth Anniversary 10,000 Posts Photogenic Name Dropper
    Do any credit card providers allow balance transfers between husband and wife 
    Technically no, in reality, few check

    The terms will normally say that it must be your debt moved to your own card but I have never come across any that verify the new card is in my name (though perhaps in the back end they do?). Given the debt will become the responsibility of the receiver it's a trust exercise. You could also look at a Money Transfer card instead and put the funds into the bank and then transfer it to pay the debt and pay off that way.

    Just to reiterate though, the BT card becomes your debt if you do move it, if you split up it would not be enforceable on the first person.

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

  • CliveOfIndia
    CliveOfIndia Posts: 2,175 Forumite
    1,000 Posts Second Anniversary Name Dropper
    In theory you can only transfer a balance between accounts held by the same person.  Anecdotally, in practice, if you do the transfer online rather than over the phone, it usually works fine.
    To be pedantic, do remember that the debt becomes the sole responsibility of the account holder.  So if the wife transfers her debt to the husband, it's solely the husband's responsibility to repay it, and to deal with any consequences of late/missed payments.  Probably no issue at all in a stable marriage, but it's always worth mentioning.
  • I used my dad's credit card for a large purchase until I freed up space on my card a couple of months later then did a BT to his card. Same surname but registered different addresses. Worked no problem, all they ask for is the card number. 


  • Brie
    Brie Posts: 13,443 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    spouses, completely different names, never been questioned once. 
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