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 transfer money from credit card to someone else? ›
It's possible, however, to transfer money straight from your credit card to your or someone else's bank account, although there are a number of things you should be aware of so you don't end up paying too much for your transfer in extra fees.
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 transfer debt to another person? ›
Key Takeaways. In most cases you cannot transfer a personal loan to another person. If your loan has a co-signer or guarantor, that person becomes responsible for the debt if you default on the loan. Defaulting on a personal loan is seriously injurious to your credit score.
Do balance transfers hurt your credit? ›
A balance transfer can improve your credit over time as you work toward paying off your debt. But it can hurt your credit if you open several new cards, transfer your balance multiple times or add to your debt.
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.
Can I transfer my husband's credit card balance to mine? ›
You can transfer a balance from anyone's card, but you must remember that the balance then becomes your responsibility.
Can I transfer credit card balance to my wife? ›
A joint balance transfer is when a balance is transferred to relieve a partner's debt. Not all credit card providers allow this, but there are several that give you the option to move your debt to a partner's credit card. There are two ways to do this: transfer between two names, or create a joint account for the debt.
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.
What qualifies as an authorized transfer? ›
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.
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.
Is it smart to transfer credit card balances? ›
Bottom line. A balance transfer credit card can be a useful tool if you're looking to pay off debt faster. If you get approved for a low interest rate and pay off your debt during the promotional period, you may be able to save money on interest and be debt-free sooner.
Can I do a balance transfer from my husbands account? ›
The balance doesn't have to be in the consumer's name to qualify for a transfer, so if someone's new spouse has a high-interest credit card balance and they have excellent credit, a 0% APR balance transfer offer can pay off an old balance and help a couple start over together with lower debts.
Can an authorized user make payments Capital One? ›
If you are the primary cardholder on an account, you can easily give another person permission to make purchases and manage other account features. This added person is called an authorized user. They get their own card but aren't responsible for payments.
Can authorized users make their own payments? ›
Authorized users can make charges, but they aren't responsible for bill payments. The primary cardholder has complete liability and is responsible for making payments, redeeming rewards, requesting credit limit increases, etc.
Am I responsible for the debt if I am an authorized user on a credit card? ›
Authorized users receive credit cards that are connected to the primary cardholder's line of credit, but they are not responsible for paying off the charges they make on those cards. The person whose name is on the credit account is fully responsible for all charges made to the card.
