Balance Transfers with Joint Primary Cardholder’s Guide

Featured Balance Transfer Credit Card

The Suncorp Clear Options Standard Card features a low balance transfer offer for the first 12 months which gives you pleanty of time to pay off your existing balances. You will also benefit from a low ongoing rate on purchases and low annual fee.

• $39 annual fee
• 12.24% p.a. on purchases
• 1.9% p.a. for 12 months on balance transfers
• Cash Advance Rate of 17.99%
• With the option of adding up to 4 additional cardholders you and your wife can pay off your balance together.

Click here to read the Suncorp Clear Options Standard Visa Card terms and conditions

We received a question from a visitor on our site who was trying to do a balance transfer from his wife’s credit card to a card that they were both the primary cardholders of. He wanted to end up with both of them being able to payoff the card and both of them being able to use the card.

His wife was the primary card holder of the existing card that they had and he was not listed as a secondary or primary on it. Also he was going to be the sole income earner going forward as his wife was going to stop working.

“I want to balance transfer my wife’s card to a joint account that I am the primary income earner for but we both have access to the card. And I am wondering what is the best structure to do it with?”

How to balance transfer to a joint primary card holder with a wife and husband

The answer to this question is as follows: You can only do a balance transfer from a “joint primary” card to a “joint primary” card or a primary card to a primary card.

What is possible

In other words you cannot do a balance transfer from a single primary card holder to a joint primary card. You can also not do a balance transfer from a primary and secondary card holder to a joint primary holder.

What is not possible

The solution: Add yourself to your wife’s current credit card account and make it a joint card i.e with 2 primary card holders. Call your current credit card company to get yourself added, they will ask you to reapply but will most likely approve you because you will be the primary income earner going forward. Once you are setup as a joint primary card holder you can then make the balance transfer to a new bank to a joint card.

You can compare balance transfer cards and apply online through Credit Card Finder.

• Comparison of Top 10 Credit Card Offers

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0