Is it possible to do a balance transfer from someone else's card?
Yes, but only some providers let you transfer another person's balance to a credit card in your name. Barclaycard is one of them.
These providers may restrict who you can transfer a balance from. For example, the other person may have to be your partner, family member or close friend.
Only you (the person taking on the balance) can request the transfer. The provider will not allow the other person to make the transfer.
Taking on someone else's credit card debt is a risk.
Only make the transfer if:
Or
To stop interest building up for a fixed period, you could move their balance to a new 0% balance transfer credit card in your name. But watch out for transfer fees.
Learn more about how a balance transfer works
Who's responsible for the debt once it's been transferred?
Once the transfer has been made, the debt will be in your name. This means you are legally responsible for repaying it.
This does not mean that you have to pay off the debt by yourself - you can ask the person whose balance is being transferred to give you money to pay off the balance each month.
Before you take on their debt, you should agree how much they'll pay you every month. Or, get them to set up a direct debit to pay the minimum amount directly to the card company.
Keep a written record of the agreement and every payment that is made. You may have to refer to it should any problems arise later.
How will you be affected by taking on someone else's balance?
If you, or the person whose debt you are taking on, miss a payment or stop repaying the debt on the new card, the credit card provider will chase you, the named cardholder, for the money.
This could mean you have to:
Your credit record will also be affected if you miss payments. It does not matter that the debt originally belonged to someone else.
Why your credit record matters and how to improve it
FAQs
Only you (the person taking on the balance) can request the transfer. The provider will not allow the other person to make the transfer. Taking on someone else's credit card debt is a risk.
Can I make a balance transfer from someone else's credit card? ›
Only you (the person taking on the balance) can request the transfer. The provider will not allow the other person to make the transfer. Taking on someone else's credit card debt is a risk.
Can someone else transfer money to my credit card? ›
Send money to a debit or credit card—just like that
Rather than paying into someone's bank account, you can transfer money straight to their debit or credit card. It's that simple, and there are heaps of benefits to sending money this way.
Can an authorized user do a balance transfer? ›
For example, authorized users can charge money to your account, but they can't add other authorized users or dispute charges. They also can't request credit limit increases, transfer balances or close the account. In contrast, joint account holders can do all those things and more.
Can I pay off someone else's credit card? ›
Set up the credit card company as a payee with your bank.
If you use online banking to pay your bills, you can pay the credit card bill through your online account or mobile app. Simply add the name of the credit card company as a payee and include the account number of the person whose bill you want to pay.
Do balance transfers hurt your credit? ›
Balance transfers won't hurt your credit score directly, but applying for a new card could affect your credit in both good and bad ways. As the cornerstone of a debt-reduction plan, a balance transfer can be a very smart move in the long-term.
How does a credit card balance transfer work? ›
A balance transfer moves a balance from a credit card or loan to another credit card. Transferring balances with a higher annual percentage rate (APR) to a card with a lower APR can save you money on the interest you'll pay.
Can I balance transfer from my husband's card to mine? ›
So, in summary, yes you can transfer a balance from someone else's credit card. This is provided that you understand and are comfortable with the transfer of the debt liability to yourself. Legally, your partner, your wife, or your husband is no longer liable for the repayments after the transfer, but you are.
How can I use someone else's credit card legally? ›
In most cases, verbal authorization is sufficient to make your use of the card legal. For example, if your friend hands you his card and asks you to buy something for him at the store, he has effectively authorized your use of the card.
How do you do a balance transfer? ›
- Check your current balance and interest rate. ...
- Pick a balance transfer card that fits your needs. ...
- Read the fine print and understand the terms and conditions. ...
- Apply for a balance transfer card. ...
- Contact the new credit card company to do the balance transfer. ...
- Pay off your debt. ...
- Bottom line.
Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone or other electronic device capable of communicating with such financial institution, wire transfers, and automated clearinghouse transfers.
Can an authorized user use my credit card with my name on it? ›
An authorized user is someone who is allowed to use someone else's credit card. The person who owns the credit account is called the primary cardholder. Authorized users may be issued their own credit card with their name on it, but the account belongs to the primary cardholder.
Can you transfer a business credit card balance to a personal credit card? ›
The answer is yes, you can. The process is very similar to balance transfers between personal cards.
Can I use my husband's credit card? ›
You certainly can't use someone else's credit card without permission. That's fraud, which is a crime. And you technically aren't allowed to use a credit card that isn't your own under any circ*mstances.
Is balance transfer a good idea? ›
Is a balance transfer fee worth it? If you have a significant amount of credit card debt, the 3% balance transfer fee (or sometimes even a 5% fee) is absolutely worth paying when transferring your balance to a card that has a 0% intro APR offer, but only if you still need time to pay off a balance.
Can you transfer a credit card balance to a bank account? ›
Bottom Line. Cash advances and balance transfer checks are two ways to transfer money from a credit card to a bank account but should only be used as a last resort. Of the two, a balance transfer check, especially if it carries an 0% APR promo rate, is a much better option.
What happens to an old credit card after a balance transfer? ›
After a balance transfer takes place, your old account remains open. The original card issuer will typically only close your account if you make a request for it to do so. Unless you have a good reason to cancel your old credit card, however, you may want to think twice before you close the account.
