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    • deejbee
    • By deejbee 1st Apr 17, 9:21 AM
    • 10 Posts
    • 1 Thanks
    deejbee
    Yes thanks very much. It makes sense the way you explained it. I'm not impressed by the way Barclays avoided the question about credit utilisation however. Still, it is a cheap loan.
    Last edited by deejbee; 01-04-2017 at 9:27 AM.
    • ceredigion
    • By ceredigion 2nd Apr 17, 7:56 PM
    • 2,377 Posts
    • 2,963 Thanks
    ceredigion
    I'm not sure if there is another more appropriate thread for this but I couldn't see one.

    Anyway, Barclays are offering to transfer up to 10K to my bank account with 6 months interest free for a charge of 1.9%. It seems like a cheap loan but I can't see how it will affect my credit credit rating (which is excellent).

    If I were to take the whole 10K which is basically the credit limit of the card when will it negatively affect my credit rating as soon as I take the offer up since my card has effectively been heavily used and won't be repaid in full for the 6 months the offer is on for (when I would repay in full)?
    thx.
    Originally posted by deejbee

    Don't think I would pay a 1.9% fee for 6 months,
    • rich_forum
    • By rich_forum 19th Aug 17, 12:55 PM
    • 1 Posts
    • 0 Thanks
    rich_forum
    The stoozing well is dry.

    Anyone got tips on how to get more credit.
    Basically the cards have started rejecting new applications and credit limit increases.

    After getting a no for the computers I've tried online chats (which I assume are real people!) but they come back with canned "responsible lending" responses.

    I have the cash (and more) in the bank to pay the full balance. But I just want more credit until the 0% expires in March 2018. I get to stooze more, they get more merchant fees.
    Or is it that they don't want to give out more cash at 0% irrespective of whether I'm good for the debt?
    • Vortigern
    • By Vortigern 20th Aug 17, 8:16 PM
    • 2,308 Posts
    • 1,514 Thanks
    Vortigern
    I have the cash (and more) in the bank to pay the full balance.
    Originally posted by rich_forum
    They don't know that you have the cash available; they look at the ratios of debt:income and utilised credit:available credit. Both ratios are too high and they think you can't afford any more debt.

    It happened to me once. I just took a break from stoozing for a while.
    • Nebulous2
    • By Nebulous2 20th Aug 17, 9:22 PM
    • 1,626 Posts
    • 987 Thanks
    Nebulous2
    The stoozing well is dry.

    Anyone got tips on how to get more credit.
    Basically the cards have started rejecting new applications and credit limit increases.
    Originally posted by rich_forum
    What do you do with old cards - do you close them?

    I have two Barclaycards with very occasional usage and 5 figure limits. They are both offering me BTs and MTs.

    Have you tried a purchase card for a slow stooze?

    I'm not looking for more, as I'm finding it harder to get a decent rate from the stooze pot I have.
    • martinjo
    • By martinjo 21st Aug 17, 9:11 AM
    • 7 Posts
    • 1 Thanks
    martinjo
    am i right, when you stooze the cash for 0% balance transfer, you still pay a fee?
    how much is that fee for different lenders?
    why stooze cash if you already have it to pay back in time?
    • mrs T
    • By mrs T 21st Aug 17, 4:44 PM
    • 982 Posts
    • 1,181 Thanks
    mrs T
    Not always, there are fee free cards out there. The point is to save the money at an interest rate that more than covers any fee so you make a profit. https://www.uswitch.com/credit-cards/credit-card-balance-transfers/ look here for example
    Last edited by mrs T; 21-08-2017 at 4:47 PM.
    • Ebe Scrooge
    • By Ebe Scrooge 10th Sep 17, 11:33 PM
    • 3,972 Posts
    • 3,392 Thanks
    Ebe Scrooge
    Ken509 reported for continentally-challenged Spam.

    ( We use £'s over here, Kenneth dear, not Dollars ).
    I may not know much about art, but I know what I like.
    • khandslow
    • By khandslow 10th Oct 17, 2:44 PM
    • 1 Posts
    • 0 Thanks
    khandslow
    Stoozing: credit card to ISA
    Hi, does anyone know if you can make a payment from a credit card with 0% on purchases to a Lifetime ISA without incurring charges? Many thanks in advance
    • Vortigern
    • By Vortigern 10th Oct 17, 5:00 PM
    • 2,308 Posts
    • 1,514 Thanks
    Vortigern
    Hi, does anyone know if you can make a payment from a credit card with 0% on purchases to a Lifetime ISA without incurring charges? Many thanks in advance
    Originally posted by khandslow
    It's extremely unlikely and would probably suffer a cash advance fee.

    The only place you'll get a definitive answer is the institution where you have your LISA.
    • smala01
    • By smala01 17th Oct 17, 2:12 AM
    • 150 Posts
    • 102 Thanks
    smala01
    Hi, does anyone know if you can make a payment from a credit card with 0% on purchases to a Lifetime ISA without incurring charges? Many thanks in advance
    Originally posted by khandslow
    No. The best you can do if find a "super balance transfer" card that allows a bank transfer to your current account as opposed to paying off a third part credit card.

    My MBNA cards have this at 2.9% fee with 12-24 months at 0% - its not something i would do at that fee. The slow burn would be to spend on the card and instead of paying it off, put that cash into the ISA (making minimum payments of course!)
    • JuliusCaesar
    • By JuliusCaesar 18th Oct 17, 9:00 AM
    • 33 Posts
    • 40 Thanks
    JuliusCaesar
    Hi, does anyone know if you can make a payment from a credit card with 0% on purchases to a Lifetime ISA without incurring charges? Many thanks in advance
    Originally posted by khandslow
    No, but I have just done this using the 'two card trick' which involves using an MBNA card. I have had an MBNA card for a few years that I don't use, but they keep offering me money transfers into my bank account at 4.9% with no transfer fee. I recently applied for a Tesco 24 months 0% balance transfer card with no transfer fee.

    I transferred money from the MBNA card to my bank account and the next day transferred the same amount from the Tesco card to the MBNA card leaving a zero balance. One day's interest (if it is charged at all) works out at 0.013% of the amount withdrawn, so about 54 pence on £4000.
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