i did this through MTN in January. The application itself was quite quick (phone 808 and get them to fax/email you the right forms). I transferred my contract from my CC into my personal capacity and you will need supporting information from the transferor (i.e. ID, CK-info etc) as well as the transferee.
The transfer (including banking details etc) was quick, BUT:
- Although I was owner of the CC and transferred into my private capacity, I lost all credit records. This resulted in having my international roaming deactivated (nice, when you find this out while overseas).
- Due to the above, they also blocked my phone (as my avg spent was reset and once I reached a certain credit-limit, they blocked it)
The transfer is quick, but the aftermath is a bit time-consuming. I had to reactivate roaming, voice-mail was gone, line was locked etc. I endured the pain, as I didn't want to give up the number.