Transferring balances between spouses?

JenniferinFL · ‎09-03-2014

My husband and I don't have much in the way of shared finances. I'm an authorized user on a Sears card we don't use, but, otherwise we have our own bank accounts and credit cards. During my husbands latest app spree, he qualified for a few cards with 0% balance transfer offers. He only plans to use one of them for a balance transfer.

We were thinking about using one of the others for a balance transfer from one of my credit cards. Thoughts? Obviously it would have an effect on his utilization until I paid it down. Any other issues we haven't thought of?

Current Cards: Cap 1 Journey $3000, Cap 1 Playstation $2250, WFNNB Store Cards $2450 combined, Target $700, CareCredit $1700, Barclay Rewards Plat. Mastercard $1800, Old Navy $300, DCU Platinum Rewards Visa $2000, Swagbucks Rewards Visa $1000

Starting Score: 615 EQ (03-15-2012) 600 TU (03-21-2012 Barclays app) ) Ch.7 discharged 5/2009

Current Score: 671 EQ (09-27-2014 DCU) 660 TU (9/26/14 Barclays) Ex 688 (10/07/2014 Swagbucks)

Gardening since 9/22/2014

Creditaddict · ‎09-03-2014

Just as long as the card you have in your name that you want to pay off is not the same issuer that he has in his name that he wants to pay off... you are good otherwise!

tcbofade · ‎09-03-2014

My DW and I do this all of the time. As CA mentioned, as long as it is a different card issuer, you'll be fine. Make sure that you and Mr. stay on the same page and aware of what the other is doing tho...a lack of communication here could REALLY screw things up...

04/01/24 Fico 8: EX 763, EQ 799, TU 783.
Fico 9: EX 756 03/13/24, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...