Tarts!

Becky

I am a late comer to the 'stoozing' method of using credit cards. I hope I am using the correct terminology!

Are cards that offer, say, 6% interest free and 0% balance transfers to a bank account very rare these days?

Is it more a case of 2 cards, 1 "SBT" and one 0% interest for 6 months and then transferring between them to get the 0% interest debt?

I bought Martin's 2nd edition to "The Money Diet" and have been reading with interest about making gains from 'free' credit.

I just feel I am way too late to try this! The 2 CC I have will be of no use to this so I am going to close at least 1 down because I never use it.

Which cards offer zero transfer fees for "SBT"?


Updated:

Just spent 10 minutes reading pages 387 onwards in the book and have got my head around it now.

What a very interesting book it is!

My only problem is that both my CC do not have 0% balance transfer and certainly not as cash into my current account like the example used in the book.

I don't really want to apply for 2 new cards.

YorkshireBoy

Becky wrote:

...I am going to close at least 1 down because I never use it.

Becky wrote:

I don't really want to apply for 2 new cards.

Well, that was a short-lived stoozing career! Started and stopped in one post.

I'm not sure if you have a question remaining, because you seem to have updated your original post to say that you have now got "your head round it"?

Becky

:rotfl:

Just me using the forum as a way to dump all my ideas / questions.

I am learning a bit as I go before delving into this.

rudedog_2

Are cards that offer, say, 6% interest free and 0% balance transfers to a bank account very rare these days?

Becky, i assume you mean 6 months and 0% balance transfers here...

Anyway, the answer to your question is probably yes, there are fewer banks offering 0% for balance transfers, with no fee for 6 months and over.... Just look at the tables https://www.stoozing.com for the best deals at the moment. Their table is ranked so the best cards (in their opinion) are at the top.... i.e lloyds and HSBC are both offering 9 months 0% with no fee! :-)

Is it more a case of 2 cards, 1 "SBT" and one 0% interest for 6 months and then transferring between them to get the 0% interest debt?

Traditionally, all stoozers needed was one SBT card so that they can transfer the balance transfered from their other cards to their current account (ideally fee free). From there, the money would be transfered to the saving account earning the free interest :-)

Which cards offer zero transfer fees for "SBT"?

The new egg money card does the process above for you. It pays 4% on positive balances and allows you to transfer money free if required.

Hope this helps.....