ive got an amount on a credit card, can i transfer this balance to my friends credit card (with his permission obviously) to take advantage of his 0% on balance transfers offer?
2006-09-20 10:41:48 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
Of course you can . Your friend needs to call his creditor and ask for a balance transfer to your account.
2006-09-20 10:53:31 · answer #1 · answered by nhan_andy 2 · 0⤊ 0⤋
It isn't really a balance transfer. What it is, is that your friend would be paying off your credit card debt with his credit card. It is likely to be considered a cash advance. It is highly unlikely to be considered a balance transfer, so unless your friend has a 0% APR on purchases or cash advances (which he might) you won't take advantage of the deal.
2006-09-22 17:09:20 · answer #2 · answered by PermDude 4 · 0⤊ 0⤋
If the cards are both issued by the same bank, they will not allow the transfer. If they are issued by different banks, a balance transfer is just one card paying off the other card. The card being paid doesn't care who makes the payment. The card making the payment only knows the account number they are paying off, not necessarily the name on the account.
2006-09-20 13:59:52 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
Depends on how you work it and what the terms and conditions of your friend's card are. If it says you can transfer from another credit card that DOESN'T belong to the cardholder, then you are good to go.
2006-09-20 10:45:39 · answer #4 · answered by dishmal 2 · 0⤊ 0⤋
Yes you can. All they need is the card number not the name where the balance is coming from.
2006-09-21 03:36:28 · answer #5 · answered by scallywag 4 · 0⤊ 0⤋
Yes. If he goes to his bank/ card provider and requests a transfer from your card and he signs for it, they will pay off your card and transfer it to his.
2006-09-20 10:51:37 · answer #6 · answered by Katkin 2 · 0⤊ 0⤋
Depends on the term and conditions of the parties.
2006-09-20 10:43:40 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Only if he takes out enough cash to pay off your debt but it would be too expensive.
2006-09-20 10:46:33 · answer #8 · answered by Anonymous · 0⤊ 0⤋
im not sure i dont think you can
2006-09-20 10:43:17 · answer #9 · answered by confused 6 · 0⤊ 0⤋