Can I balance transfer a credit card from my name into someone Else's name?

Question

Long story short, I am purchasing a home and in order to qualify for the moratage i need to pay off a credit card balance of 10000 dollars. My question is, can I balance transfer the card from my name into someone elses (say a friends name) so that the debt is then payed off and out of my name?

Answer 1

Must be some friend to be willing to do this for you.

You can't "transfer" the debt, however your friend can payoff your debt with his credit card (using checks provided by his credit card company).  Your credit card will be payed off, and he will owe $10,000 on his.

If you are actually going through with this, call your credit card company first before you send them the check.  The interest is usually compounded based on daily balance.  So the amount shown on your last statement isn't the amount required to pay off today.

Best wishes.

Answer 2

No.  Absolutely not.