Which way to go?

cupc4kes

Ive got a virgin credit card with about £300 on it.My 0% is due to end in April.My boyfriend has a LloydsTSB gold card with about £600 on.We want to put both of these balances on 1 card and have that as a joint card.If you know what I mean.Is this possible or is it a case of paying the 2 balance transfer fees.Also between us we have a couple of cards which we dont use.Will this go against us.And which card would be best for us as we plan to pay this off as quickly as possible.Also I applyed for a phone contract a few weeks ago and was excepted again will this go against us.Or beacuse its a joint application would this more than likely be accepted? Sorry for all the questions but im a newbie

CLAPTON

you can't have a joint credit card (unlike a bank account for example)
One person is the primary CC account holder and is solely responsible for paying the card. The CC will show on their credit record.

The secondary person has no responsibility to pay anything and it won't be reported on their credit record.

If you have good credit records then it may well be worthwhile applying for another 0% balance transfer card and simply transferring the balance to it.


In general too many credit applications is a short time is unhelpful so only apply for a 2/3 cards at most.

Fortunately your balances aren't too bad so concentrate on paying them off asap.

cupc4kes

If 1 of us applys to a 0% card and we are accepted Im right in thinking that we would have to pay 2 balance transfer fees because the amounts are coming from 2 different credit cards.Also would there be any problems requesting a balance transfer from an exsisting card to a new card with a different name on it.As this is what we want to do put both of our balances together and pay them off as a whole

YorkshireBoy

cupc4kes wrote: »

If 1 of us applys to a 0% card and we are accepted Im right in thinking that we would have to pay 2 balance transfer fees because the amounts are coming from 2 different credit cards.

Yes, but it's still going to be, say, 3% of the total balances transferred to the new card.

Whether you move 1 card at £1,000 or 2 cards at £500 each, the end result is 3% of £1,000 (ie £30 or 2 x £15). Make sense?

Also would there be any problems requesting a balance transfer from an exsisting card to a new card with a different name on it.

Not usually. You're generally only asked for the 16-digit card number and maybe the provider name.