putting my toe in as a mini-stoozer ! ? !

sirboz

I have read this thread with envy at those that have the bottle to stooze for thousands on their offset mortgages etc, top work !.

I have a barclaycard, about £1000 a month spend, pay it in full every month. However just opened a savings account, pay in the same pre-agreed amount every month for 12 months and get 10% interest, withdraw any and you lose all your interest. I stuck down £200 per month, but now i have realised would this be a perfect stoozing opportunity for a beginner ? ?, even better if i can get my limit raised to the max £500 per month ! !

If that sounds ok, what would be the best card for me to start with ?, any recommendations/warnings for a learner driver ?

tomstickland

Egg Money is a most valuable card, I've just got one as my first stoozing move. It allows super balance transfers out to bank accounts (well "from" in their terms), and pays 4% AER on positive balances. I've also been accepted for a LTSB plat card which will be my 1st stooz source.

sirboz

thanks Tom, what i was thinking was instead of paying off my credit card ( i would get a new one with a 0% offer obviously), pay the money into this high int savings account, then after the 12 months is up, pay off my huge credit card bill and pocket a nice profit , hmmm off to sleep on it for now !, Im scared lol

tomstickland

You need a 0% purchase card for that. Use the tables at https://www.stoozing.com for quick reference.
I'm just going for a 0% card and moving the money into a high interest instant access account. That's going to pay £40 per £1000 over a year, so if I can move 10K it would be £400 pa, but I have to make minimum repayments each month, so it won't be quite as good as that.

angelica

tomstickland,

I received my Egg Money few weeks ago, but as far as I concerned there were no introductory BT/0% purchases offers for me. And when I looked at their web-site I could find only the following info: http://new.egg.com/visitor/0,,3_79827--View_1682,00.html
Did you get a special offer by post? Or via some special link?

tomstickland

No, they haven't offered me 0% on anything.
I'm using a 0% offer for 9 months from LTSB with no fees to make the transfer. The money can then sit in Egg money at 4% AER or I can move it from there into my current acount for free and then onto another of my savings accounts.

angelica

OK, I'm with you now. I also like Egg cards, they are great for many purposes.

David_Mee

sirboz wrote:

I have a barclaycard, about £1000 a month spend, pay it in full every month.

Don't forget to take a look at best cash back cards too - £240 a year on that spend

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