[skywalka]

Hi guys.

I've been working hard to pay off my credit card debt. I got a Virgin card with 6 months interest free & I've reduced my debt from over $10,000 to almost $6,000. Trouble is my interest free period will expire in a couple weeks.

After getting involved in a bad business deal I fear that I know have a default on my credit file. I'm going to confirm whether or not this is the case. If so I will not be able to get another credit card.

Another problem is the other credit cards with 6 months interest free are probably all maintained by GE Money. GE tend to offer only very small initial credit limits so even if I am able to get a GE credit card I will probably be unable to transfer all of my debt to it.

I was wondering if it would be possible for friends & family to get credit cards, with 6 months interest free. Could they then transfer some of my debt onto their cards. I'm not sure if the credit card companies grant interest-free transfers from one person's card to another.

Thanx 4 looking.

[JohnK]

Originally Posted by skywalka

I was wondering if it would be possible for friends & family to get credit cards, with 6 months interest free. Could they then transfer some of my debt onto their cards. I'm not sure if the credit card companies grant interest-free transfers from one person's card to another.

I don't think this is possible through a balance transfer. Most balance transfer conditions state "Transfer the balances of your other store and credit cards....".

If friends or family trust you and one of them has an existing credit card then ask them to make a cash advance for the amount you require and pay off your outstanding credit balance. They can then apply for another credit card requesting a low rate balance transfer to the old credit card used to make a cash advance. You then have 6-12 months to pay off their newly acquired balance transfer debt and interest.

[johnsmith]

Yes this is possible, the balance transfer credit card company would likely not know the person who they were sending the funds too since all they usually ask for is the 16 digit card number so this could be any card in any persons name. Westpac allow this and they have an area on the bottom of the balanc transfer form for the other cardholder to sign.

http://www.westpac.com.au/manage/pdf...df?OpenElement

[Andy]

Try ReadyCredit from Citibank. You could get a low interest rate upto 2.99% on balance transfers for the life of the balance.

I have got these offers before in mail. I mentioned this to a friend and he called up citibank and was able to get the same rate for himself as well

[skywalka]

Thanx.

Those are all good suggestions.