CreditCards Blog

Hi All,

I have a quick question and was hoping someone may know the answer.

My brother has got himself in debt on a couple of credit cards to the tune of approx. 3600. He has a bad credit rating due to reasons I won't go into here.

I was wondering if it is possible for me to pay off his credit card debt using my own credit card and then applying for a new credit card with 0% balance transfer? He can then set up a DD into my account which I can use to make the monthly payments. (I know he will be good for the money).

If this is not possible does anyone have any other advice?

Thanks.

You can apply for a 0% card and transfer your brother's balances straight onto that (ie omitting your first step). You will then be repsonsible for the debt, so you need to be sure you can afford to repay it if ever your brother can't or won't.

You may well find that when applying for a new credit card (with 0% balance transfer offer of course) that you will be able to enter the details of your brother's cards onto the section of the form that asks if you wish to transfer a balance right away.

My wife did this a while back to help her mother out, as she was able to get better deals at the time. This was before we were married so was the same surname, they didn't query the different initial. Some forms don't even ask for a name, just the credit card number to transfer from.

You can apply for a 0% card and transfer your brother's balances straight onto that (ie omitting your first step). You will then be repsonsible for the debt, so you need to be sure you can afford to repay it if ever your brother can't or won't.

You beat me to it as I was composing my reply! :D

Thanks guys - I didn't think that it would be possible to transfer someone elses debts to a card in my name. That would help him out immensley!

I did the same for my sister - took a card out in my name and paid off her card with a balance transfer - and it worked fine.

As one of the previous post suggested make sure you can afford to make the payments in the event that your brother can't, last thing that you want to happen is ruin your own credit rating.