Is it possible?

Yes, but only some providers let you transfer another person's balance to a credit card in your name.

These providers may also restrict who you can transfer a balance from, for example, only a partner, family member or close friend.

Only you can request a balance transfer to your card, as a provider will not allow the other person to make the transfer.

Only make the transfer if:

  • You can trust them to make the repayments

  • You are happy to pay off the debt for the other person if they don't

To help cut out interest for a fixed period, you could move their balance to a new 0% balance transfer credit card in your name - just watch out for transfer fees.

Who's responsible for the debt?

Once the transfer has been made, the debt will be in your name, leaving you legally responsible for repaying it.

Agree how much they will pay you each month, or consider getting a direct debit set-up so they can pay the minimum payment directly to the card company.

Keep a written record of the agreement and keep track of the payments made on paper or in a spreadsheet.

How will you be affected?

If you or the person whose debt you are taking on miss a payment or stop repaying the debt on your card, you will be chased by your credit card company.

This could mean you have to:

  • Pay off the balance yourself

  • Pay any interest owing

  • Pay charges for missed payments

Your credit record will also be affected by any missed payments, whether the debt was originally someone else's or not.