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 | No |
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
I have NAB credit card and I want to transfer balance to my friend’s CC (Westpac) as I owe him money.
Is this possible?
Hi Sam,
Thanks for your question.
Just to confirm, a balance transfer refers to the process in which a cardholder transfers an existing debt to a new card at a promotional interest rate. By doing so, they can then repay their debt quicker and at a lower interest rate.
Also, you can generally only transfer balances that will be under the same name as the existing account.
You may need to consider using your debit card to directly transfer funds to your friend to repay the debt.
I hope this has helped.
Thanks,
Sally
Hi
So I want to do a balance transfer from someone else’s name into my name. I was wondering what kind of authority do they need to provide for me to do this?
I am the additional card holder on the account however I don’t think this will be sufficient to authorize a balance transfer without their approval. A representative of heritage said that it would have to be coming from a joint account for me to do this and on the table the Virgin card says I need to just be an additional card holder of the account that the debt is being transferred from.
Please help!
Thanks !
Hi Mark,
Thank you for your question.
Heritage Bank lets you transfer a balance from another credit card in another person’s name to a credit card in your own name, taking advantage of that low promotional balance transfer rate of interest while Virgin lets you do this if the primary cardholder on the credit card that you’re transferring from is a signatory on the credit card that you are transferring to. A signatory is basically just a fancy word for additional cardholder.
For more information, you can check our guide to joint balance transfers It is helpful to make sure that you are aware of the product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.
I hope this has helped.
Thanks,
Sally
Hi, my question is in terms of business credit cards.
Can I transfer the balance owing on a business credit card (under two primary card holder names) to a personal credit card?
Thanks
Hi Pat,
Thanks for your inquiry!
For a balance transfer process, if the balance owing/ outstanding on a credit card is from a joint account/ two primary cardholder names, the destination credit card must be a joint account with the same cardholder names. Please refer to the following link for a further explanation on this process for joint-account balance transfers and the eligibility requirements.
Cheers,
Jonathan
Hi
Thanks for your post. It is really helpful for my scenario. However, to ensure that I understand it correctly, can I ask you a question about it?
The scenario is that I am going to apply for a interest free balance transfer credit card with Bank of Melbourne. I will use it to pay off my husband’s CBA debt and I am not an additional cardholder for that card. So technically we are 2 separate primary cardholders.
Based on what I understand, Bank of Melbourne allows me to transfer the balance to my husband’s CBA card, does not it? and also my husband’s CBA does allow as well, right?
I hope I’ve made it clear and thanks for your help. I am really appreciated.
Hi Angela,
Thanks for your inquiry.
That is correct, balance transfers can be made from other credit card accounts as long as the account is in good standing and the balance transfer amount falls within the balance transfer limit of the bank. If the accounts are joint-account types please refer to our guide to joint accounts.
Cheers,
Jonathan
Hi there, My partner and I were considering opening a new credit card account to transfer his outstanding credit card balance onto it – to save on interest and due to better interest rates being offered. His current card is with Coles (Latitude Financial Services) – and I’m just a bit confused as to my next step. His bank (Suncorp) said they wouldn’t approve his new credit card (due to income limitations) and that they wouldn’t transfer his card balance to my name (though I have the ability to obtain the card on my own, should I require it). Will Latitude Financial Services let him transfer his outstanding balance onto a new card under my name or under both our names (which would also be with a different bank – possibly my bank -CBA- or ANZ, NAB or Heritage Bank)?
I hope I’ve made sense!
Hi Anisha,
Thanks for your inquiry.
Suncorp Bank does not allow balance transfers between two separate names. Please refer to the following link for a list of banks that allow balance transfers between two separate names/ joint account holders.
Cheers,
Jonathan