Can I transfer iTunes credit between accounts?

This totally will not work. iTunes explicitly says gift certificate balances can not be used to purchase other gift certificates. I will call apple tomorrow to find another work around.

You can not transfer allowance you have already redeemed onto a separate account - I am having just this problem at the moment and I am seriously pissed off with the difficulty and the lack of help ITunes give

Gifting content from one account to the other would be the simplest way to accomplish what you are looking for (albeit, this means you have to do the gifting from the device with the funds).

IIRC, you can use your account balance to send another user a (virtual) gift card.

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