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Thread: Balance Transfer Query

  1. #1

    Balance Transfer Query

    I'm starting to pay off my credit card but the apr is 42% !!!

    Anyone know if my partner has a 0% card can my balance be transfered to his as its not in my name? so i am not paying the 120 interest on top of the repayments

  2. #2
    In most cases, yes.

    Some lenders won't and never between cards from the same stable.

  3. #3
    First step for you is to join the MSE credit club and see if there are any options recommended for you that might work rather than asking your partner to take on the responsibility of your debt.

    You might also think about posting up a Statement of Affairs (SOA) - the link is in my signature - and we can see if there is anywhere you can make savings that you might have missed, in order to pay the debt off sooner.

  4. #4
    You did not outline the outstanding balance on your credit card but it must be thousands of pounds if you pay 120 a month interest.
    If your credit is good shop around for the cheapest loan to pay off the credit card balance.
    0% credit card transfers catch up with you in the end.

  5. #5
    It depends on the lender - Tesco would say No but most others are OK. If he does the BT online he can avoid the question about whether the other card is held in his name.
    He needs to be very sure that he wants to take on the responsibility of your debt - what if you split before it is paid off?

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