Credit Card Balance Transfer Question

Guest: directdude2001
Post subject: Credit Card Balance Transfer Question
Posted: Fri Mar 10, 2006 4:59 pm

Hello

I would like to know if I could BT my wifes balance on her card, to MY new card. I am not an authorized user on her card though. What are the chances the transfer will go through?

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Guest: rapjunkie
Posted: Fri Mar 10, 2006 6:50 pm

I think you can do it, although you may want to do it with BT checks from your card just in case, or call your credit card issuer to do it over the phone.

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Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Mar 10, 2006 10:00 pm

It's not a transfer--you're paying off one card by using the credit on another. The banks don't care who owns the card you're paying off, nor do they have any way of finding out as long as the card is at a different bank. Nor does the bank that's being paid off care whether the funds are coming from the account holder, his mother, her lover, a friend, a relative....

You can do it as long as the other terms of the transfer are met.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"

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Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sat Mar 11, 2006 12:36 am

Polonius is correct. Technically there is no such thing as a "balance transfer." Look at it as a two part transaction and you'll see what I mean.

Part 1: You borrow a sum of money from credit card X

Part 2: You use that money for anything you want, be it paying off another credit card, putting the money into a savings account, or going off on a spending spree (please don't do that!). To the card issuer it's all the same. All they care about is that you pay back the borrowed money in accordance with the terms of your cardholder agreement.
_________________
Do not let what you cannot do interfere with what you can do.

Ira

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Guest: directdude2001
Posted: Sat Mar 11, 2006 2:26 pm

Ok gotcha! thanks for the reply, I understand now...

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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sun Mar 12, 2006 2:17 am

directdude2001 wrote:
Hello

I would like to know if I could BT my wifes balance on her card, to MY new card. I am not an authorized user on her card though. What are the chances the transfer will go through?

You can BT anybody's debt gone

All you need is the credit card number, amount to pay, and maybe the payment addre

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