Credit card balance transfer advice please

Tulwar · 20 April 2017 at 2:46PM

Hi,
My partner has several cards with around £3000 on each. We considered trying to get a 0% transfer but she only has a part time job. I do not process a card but, now have a full time job. I know that I can get a credit card in my name and transfer some of the balance from one of her cards but, here is the question. Would I be able to apply for a 0% interest card and transfer some of the debt from her cards to it. We have a joint account and have done so for many years and believe our credit rating is quite good.

The other option is to take out a 5 year loan, consolidate our debt and end up paying approximately £70 less each month on the credit card repayments. I wanted to explore a way of reducing the loan amount by trying to transfer some of the debt to a 0% card. Any ideas please, thank you

Regards David

[Deleted User] · 20 April 2017 at 2:52PM

Yes, you can BT from her card. But it may be difficult for you to get a 0% card, if you have a lack of credit history.

Tulwar · 20 April 2017 at 3:36PM

Thanks for the quick reply. If a 0% card would be difficult to get, maybe get a low interest card to BT, pay minimum monthly repayments for a few months and then apply for a 0% card to BT to that card ? Would a few months (2-3) make a reasonable difference to my chances of getting a 0% card ? Or would a longer period of regular repayments be needed? I appreciate that I have a limited credit rating with regards to credit cards, but my credit rating with the rest of my finances is very good, but suspect that it counts for nothing when dealing with credit card companies.

Regards David

Just curious ZX81..... Is your name Sinclair .;)..yes I'm old enough to remember them:):)

Dobbibill · 20 April 2017 at 7:12PM

Be mindful that some CC providers won't allow transfers between themselves so check that out before you apply to possibly the same providers as your OH.

ceredigion · 20 April 2017 at 7:24PM

Deleted_User wrote: »

Yes, you can BT from her card. But it may be difficult for you to get a 0% card, if you have a lack of credit history.

I Know you can't with Tesco's, may be others.

IMPORTANT INFORMATION
You can only transfer a balance from a card held in your own name.
Please remember that we do normally charge a fee for balance transfers. If you would like to know the exact amount of the fee we will charge you before you complete this form then please contact us.
Otherwise you will see the fee on your current transactions as soon as we have processed the balance transfer and your monthly statement.
If you are transferring the entire balance from another card, remember to make your minimum payments on that card until you know the balance has been transferred successfully.

meantime · 21 April 2017 at 11:42PM

ceredigion wrote: »

I Know you can't with Tesco's, may be others.

Though if you tell Tesco it's in your name, how are they to know otherwise?

Credit card balance transfer advice please

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