Can I use a balance transfer offer to pay off someone else's credit ...

Nov 24, 2016 · If you choose the latter you can do whatever you'd like with that money once you receive it. Even in the case when you have the bank make direct payments to other credit cards I'm guessing they will not care if it's someone else's name on the account, but that could be …

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Can I Use My Credit Card To Pay Someone Else's Credit Card Bill?

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Sep 30, 2024 · A balance transfer could make sense if you can save on interest with a 0% APR credit card. To pay off someone else’s credit card debt, consider offering a loan with specific …

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7 Balance Transfer Credit Card Mistakes, And How To Avoid Them

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Aug 29, 2023 · In most cases, the amount you move over will be subject to a balance transfer fee — typically 3% to 5% of the total amount transferred. Let’s say, for instance, that you transfer …

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FAQs about Can I use a balance transfer offer to pay off someone else's credit ... Coupon?

Should I do a balance transfer for someone else?

You might consider doing a balance transfer for someone else if your friend or family member doesn’t qualify for a balance transfer credit card themselves. Many balance transfer cards require a good or excellent credit score for approval. ...

Can you transfer a balance from someone else's credit card?

You can transfer a balance from one person's credit card to another. But taking on someone else's debt can be risky. 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. ...

Should you use a balance transfer credit card?

A balance transfer could make sense if you can save on interest with a 0% APR credit card. To pay off someone else’s credit card debt, consider offering a loan with specific repayment terms or using a balance transfer credit card if your bank allows transfers from someone else’s credit card. ...

Can you transfer someone else's credit card debt?

In this simple guide, we’ll explain: How you can transfer someone else’s credit card debt. The potential costs of doing a balance transfer. How to reduce debt by transferring balance from one card to another. Things to remember when transferring someone else’s debt to your account. Other choices if balance transfers aren’t right for you. ...

Can I transfer a balance from another credit card in the UK?

While some credit card providers in the UK will only let you make a balance transfer from another card in your name, others will allow you to transfer a balance from someone else’s credit card. You’re likely to be charged a balance transfer fee of around 1% to 4% of the amount transferred which will be added to the debt. ...

What happens if a credit card balance is transferred?

Remember that only the person taking on the debt, i.e. you, can authorise the balance transfer and will take on full financial responsibility. The card to which the balance is being transferred may be a new credit card you’re applying for or a credit card you already have. A few debt solutions can even result in writing off some of your debt. ...