2007-02-16 20:20:45 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
I want to pay off someones balance for them
2007-02-16 20:28:57 · update #1
I'm guessing that you want to do a balance transfer to enjoy interest-free repayments for a while and that perhaps you don't have all the cash to lend right now. I agree with the previous poster. Send the money from your card to a bank account and use that to pay off your friend's card. If they need the account to be in your name, open a joint one with your friend for this purpose.
2007-02-17 00:33:49 · answer #1 · answered by skip 6 · 0⤊ 1⤋
If the question is if you can pay off someone's balance on a credit card for them, of course the answer is yes. The credit company might not be too happy about that though, since they are not getting to fleece people out of their hard earned cash. If it is a loan that you are making to this person to pay off the amount, make sure that it is properly documented, with payback dates and everything set out properly. If possible ask the person to send you a note, asking that you lend them the money. I watch small claims court (Judge Judy, Mathis and so on) and these cases are daily occurrences.
2007-02-16 21:29:58 · answer #2 · answered by Anthony F 6 · 0⤊ 1⤋
I think it depends on the credit card company - I know some people have said you can't but I did a balance transfer from my fiances credit card onto mine (from an HSBC card to a Virgin credit card) without any problems.
2007-02-16 23:49:26 · answer #3 · answered by Little Bo Peep 3 · 1⤊ 0⤋
that's smarter to pay what's due in complete, each and every time you get a bill. this manner you isn't throwing your money away on hobbies. RE: Is it greater valuable to max a credit card and pay it off each and each month or to hold a small stability and make money? working example, in case you had a credit card with a small shrink of 500, and you used 4 hundred of it each and each month, then paid it off in complete. OR in case you used $50-a hundred on it and made minimum money on it each and each month? i know that a credit card is appropriate used once you maintain your stability under 10% and once you pay in complete. the rationalization I ask is by the fact i know that that is no longer clever to max a card, yet in addition that's a sturdy theory to pay your stability in complete rather of growing to be money, in case you're in a position to. subsequently, which may be the smarter decision?
2016-11-23 14:37:03 · answer #4 · answered by ? 4 · 0⤊ 0⤋
If I knew how to do that blimey I would have struck oil! No I don't. The don't even know how to use my cash from my account. They make it difficult with so many rules and regulations. I hope what you want to do is something legal and cash you've earned. You wouldn't be asking this if the person with the credit card wanted to give you the money.
2007-02-16 20:26:38 · answer #5 · answered by Heathcliff 2 · 0⤊ 2⤋
No you cant but the person that owns the credit card can transfer it from their card to your account!
2007-02-16 20:25:51 · answer #6 · answered by I know nothing! 5 · 0⤊ 1⤋
you can do a balance transfer to anywhere, including to a normal bank account, the transfer asks for the account details, not who the account holder is.
2007-02-17 00:17:19 · answer #7 · answered by Martin14th 4 · 1⤊ 1⤋
no, you can make payments on theire behald but cant transfer the balance from their account to yours.
That is a nice gesture by the way!
2007-02-17 02:31:26 · answer #8 · answered by Rebz 5 · 1⤊ 1⤋
The best solution... Make a cash withdraw and Western Union it.
2007-02-16 20:32:46 · answer #9 · answered by MsElainious 4 · 0⤊ 1⤋
Can't do it. My mum wanted to help me with mine but the bank just laughed at her.
2007-02-16 20:32:50 · answer #10 · answered by pigletsam 3 · 1⤊ 0⤋