Abstract Ternary polymer blends were obtained by melt mixing, mixing up to 30% poly(butylene terephthalate) (PBT) with polycarbonate (PC) and phenoxy in an attempt to improve the miscibility of the PC/phenoxy binary blend. Although most of the blends with a PBT content higher than 10% appear as transparent, two Tg's appeared at all the blend compositions. These Tg's correspond to PC‐rich and phenoxy‐rich phases where a low amount of the main component of the other phase and all PBT are dissolved in amounts that are a function of the PC/phenoxy ratio of the blend. Increasing the PBT contents in the blends closes to linearity the torque versus composition plot, so that a relationship between miscibility level and viscosity exists in these blends.