Can you do a balance transfer to someone else’s credit card?
Most banks and card companies only accept balance transfers between credit cards in your name. But a few will let you do this, and you do have a few other debt consolidation options too.
Key takeaways
- A balance transfer lets you move one or more card debts onto a new card and pay it off faster. Most banks and card companies only let you do this from another card in your name.
- Only a handful of banks, including NAB and ANZ, let you transfer a balance from a credit card in someone else's name onto a new credit card.
- If you can't transfer someone else's balance onto your card, consider other options like a personal loan or a bank transfer.
Which banks let you transfer a balance from someone else's card?
We were able to confirm the balance transfer conditions with the following banks and card companies. We found only 2 banks that let you transfer a balance from another person's card.
| Bank/card provider | Can you transfer a balance from someone else's card? |
|---|---|
| NAB | Yes |
| ANZ | Yes |
| Westpac | No |
| CBA | CBA does not offer balance transfers to any customers |
| American Express | American Express does not offer balance transfers to any customers. |
| Bendigo Bank | No |
| Virgin Money | No |
| St.George | No |
| Bankwest | Yes |
How to balance transfer someone's credit card debt
- You need to find one of the few card providers that lets you transfer someone else's balance onto your credit card.
- It's best to call and double check whether your balance transfer scenario is eligible before you apply.
- Apply for a credit card with a balance transfer offer. Nominate the credit card of the person whose balance you wish to pay off.
- You will need to provide details of the account including the name and details of the primary account holder, the card number, the BPAY biller codes of the original card providers, and other details. Include the total balance amount you wish to pay off.
- Once approved, activate the new card. Then the balance transfer should happen within a few days.
- Be sure to close the original credit card once the balance is paid off. If you keep the card open, make sure you don't rack up more debt.
How to apply for a joint balance transfer credit card with your partner
Joint account credit cards are rare in Australia but if you can get one, you and your partner would share legal responsibility for the credit card account and any balance that you transfer onto it.
Keep in mind that some banks don't accept balance transfers from joint accounts.
Beware of the risks of taking on someone else's credit card debt
If you're transferring a credit card debt to someone else – or they're taking on your debt – it means you're also legally changing who is responsible for it.
So before going ahead with a balance transfer from one person to another, make sure you think about the following.
- Your credit history and credit score. If you transfer debt from someone else to an account in your name, it will be added to your credit report and have an impact on your credit score.
- Your future borrowing power. Taking on more debt can also have an impact on how much you can borrow in the future. For example, if you decide you want a new car or are saving up to buy a home, lenders will look at all your current accounts. Any debt – regardless of where it came from – can impact your ability to borrow the money you need for your goals.
- Your relationship with the person. Having someone take on another person's debt could have an impact on the dynamics of a relationship. In some cases, it may feel like you owe them or they owe you.
The National Debt Helpline states that you should carefully think about how you'll manage a relationship "where there's a constant awareness that you're in debt to that person. Many relationships have ended over the issue of money."
If you want more information on relationship issues and debt, you can call the National Debt Helpline on 1800 007 007 or visit the website and speak to a financial counsellor for free.
Our expert says: Paying off someone else's credit card debt is always risky
"If you do a balance transfer to pay off someone else's debt, you become responsible for that debt. Make sure you and other person have a really honest conversation about this. Make sure both parties are on the same page. Also, make sure you pay off the new card debt before the balance transfer period ends. After this, interest starts getting charged on the remaining balance. "
Other ways to help pay off someone else's credit card debt
Debt consolidation personal loans
A debt consolidation personal loan gives you a way to pay off existing balances for yourself or anyone else. With this option, you could apply for a personal loan in your name and request an amount that covers the existing debts. You'd then repay the personal loan, which could have a lower interest rate than the original credit card.
Guarantor personal loans
If your partner is worried they won't get approved for a new credit card or loan, you could act as a guarantor for their personal loan application. With a guarantor personal loan, you become responsible for the loan if the person who applies doesn't make repayments.
Help pay off the existing account
If you want to help clear the existing credit card debt, you could make additional repayments to their credit card account from your own bank account (or a shared account), using one of the payment options listed on their statement.
While you're usually not legally responsible for someone else's credit card debt, it can be stressful for loved ones. If you, your partner or anyone else is feeling overwhelmed, you can get free financial counselling by calling the National Debt Helpline on 1800 007 007.
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Hi,
Can I transfer my Credit Card balance to my wife’s zero balance credit card? Which Card providers allow this please?
Thanks.
Hi Ran,
No, as those debts are held by completely independent people and the banks have provided credit based on the risk profile, income, expenses, dents and situation of each individual borrower. This is the case even though you are married. You could apply for your own 0% balance transfer card, you can review some options here.
Hope this helps!
Which cards can I balance transfer onto if I am the supplementary card holder (and my husband is the primary account holder?)
Hi Ashley, Rules vary depending on the issuer, but generally speaking this would be difficult – the primary card holder remains responsible for that debt, so the balance transfer would need to be organised by them too.
Hi, Just after a little clarification.
My partner currently has a Westpac CC and I wish to transfer this to my name possibly to a new ANZ account. Some the information above (Jacob’s video) and in the tables contradicts each other.
Jacob states that Westpac do not allow a CC debt to be transferred to another card but putting Westpac as the provider into your above table displays several options for doing this.
Are you able to confirm which is correct?
Hi Paul,
Thanks for your comment.
In the video, it was mentioned that ANZ along with other banks (as also listed in the table above) let you transfer a balance from another credit card in another person’s name to a credit card in your own name.
Jacob also mentioned that Bank of Melbourne lets you do this as well. “However, the credit card you’re transferring from cannot be in the Westpac Group. That’s Westpac and St. George.” This was also clearly reflected in our table.
So if you are transferring your partner’s Westpac credit card balance to a new ANZ credit card in your name, you can do so.
Cheers,
Anndy
My wife and have separated and we have a joint credit card account. I would like to transfer the outstanding balance to take advantage of 0% balance transfers. With the financial settlement I am responsible for all debt on credit cards. Can I apply for a balance transfer for the full amount owing on the credit card in joint names
Hi Keven, thanks for your inquiry!
You can transfer from a joint-account to a single cardholder account. It is important to note that certain joint-accounts require both signatories in order to close the account.
Cheers,
Jonathan
I have a joint Citibank credit card with my wife. Can I balance transfer that to a St George credit card if the new card is only under my own name?
Hi Rocketcat,
Thanks for your inquiry!
Joint-account balance transfers must be completed to another joint account. As a result, you will have to apply for a joint account with St.George to complete this process. You can see a full list of banks which allow joint-accounts and a comparison of balance transfer credit cards to explore your options.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
Cheers,
Jonathan