Featured Balance Transfer Credit Card
You and your partner will make some serious savings with the Suncorp Clear Options Standard Credit Card which features a low balance transfer offer for the first 12 months. After your honeymoon period is over you will continue to save with a low ongoing rate on purchases.
- $27 for the first year ($55 thereafter) annual fee
- 12.74% p.a. on purchases
- Cash Advance Rate of 21.99% p.a.
- 0 days interest free
- Add up to 4 additional cardholders
Read the Suncorp Clear Options Standard Visa Card terms and conditions.
A recent visitor to our website was attempting to action a balance transfer from a credit card belonging to his wife, to a credit card where he and his wife were joint primary cardholders. The objective was for them both to be able to use the credit card and make payments.
The problem arose when it was established that he was not listed as either the primary or secondary on their existing card as it belonged to the wife, who was the primary cardholder. The other complication was that the wife intended to stop working, and he would then become the sole income provider. So a solution or alternative answer was required.
Q. How to action a balance transfer for a joint primary card holder for a wife or spouse?
A. The response to this question is: It is only possible to do balance transfers from a “primary” to “primary card” or a “joint primary” to “joint primary” card.
Q. What is not allowable?
A. You are not allowed to do a balance transfer from single primary cards to joint primary cards. Nor can you do a balance transfer from primary and secondary cards to joint primary cards.
Q. What is allowed?
A. It was advised that the husband get himself added to the wife’s existing credit card, thereby making it a joint card account with 2 primary cardholders. To do this is, it is simply a matter of contacting the existing credit card company, and asking to be added to the card. It’s quite possible that you will be asked to reapply, but this will most probably be approved, given the intent to be the primary income provider, in this case. Once both parties are established as joint primary cardholders then the balance transfer can be activated to a joint card at the new bank.
We hope this has clarified customer confusion regarding balance transfer card guide for joint card holders. Balance transfers can be a great way to save money on interest and reduce your credit card debt. A joint credit card often makes managing finances easier for families. If you need further information regarding balance transfer card guide for joint card holders, please contact us.
Related posts:
- A Guide To Lifetime Balance Transfer Credit Cards
- Your Guide to 0% Balance Transfer & Purchases Credit Cards
- ANZ Low Rate MasterCard
Posted on Wednesday, September 22nd, 2010 at 3:38 pm
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