Suitable Stoozing cards

zolablue25

Hi
I used to Stooze. I didn't realise I was doing it, but apparently I was. I bought things with a Capital One card (when they used to give 1% CB) and then transferred the balance every month to a 0% card. I have an offset mortgage so the money making bit was simple. Things have changed recently with BT charging and the like and I got a bit fed up with Capital One when they dropped the CB to .5%. I now have a Morgan Stanley card and I know that as from January I will only be getting .5% but I will still probably stay with them.

What I would like to know is.......what would be the best card to use to transfer my MS card balance to each month so that I can start Stoozing again? Any ideas?

Thanks in advance

Zolablue25 :xmassign:

smartsaver

HSBC is a good one as is 9 months at 0% for BT'S and purchases.. The EGG money card is also good for stoozing as it can be used as a mule to get money into current accounts

pardal51

you may want to have a look at this.

watch out for January's credit card "sale".

zolablue25

Thanks for the info. If I transfer my balance each month from my cashback card to an interest free card is it a BT or a purchase? I know this sounds obvious but I'm fairly sure it used to class as a purchase.

Thanks for any help

Zolablue25

YorkshireBoy

zolablue25 wrote:

If I transfer my balance each month from my cashback card to an interest free card is it a BT or a purchase? I know this sounds obvious but I'm fairly sure it used to class as a purchase.

That would be classed as a balance transfer.

Be aware though, that there are very few BT cards that allow unlimited BT's outside an initial period - usually 30 days, 6 weeks etc. Notable exceptions being Co-op, Yorkshire Bank, an old IF card, and some of the 18 month Capital One cards.

doberryfirkin

Yorkshireboy.

I thought I was starting off by getting a sky card with 0% interest 'till 2007. But judging from above I need to consider:
a. Another card to get cashback and then transfer the balance to Sky.
b. A card (mule) through which the sky balance can be transfered to a savings account.

Also I note you suggect HSBC rather than Sky for 0% - why? I was going to simply run up a large debt on the sky card (using the 0%) and then pay off at end of year but I think I need to be considering other options. Is this correct?
TIA

YorkshireBoy

doberryfirkin wrote:

Yorkshireboy.

Also I note you suggect HSBC rather than Sky for 0% - why? I was going to simply run up a large debt on the sky card (using the 0%) and then pay off at end of year but I think I need to be considering other options. Is this correct?

I can't remember recommending one over the other, but off the top of my head I'd say for a serious stoozer with a large limit the HSBC is better because, whilst it is only 9 months, it is fee-free for BT's made in the first 30 days. The 2.5% uncapped* fee on the Skycard would mean a £250 fee for a £10K BT.

If you're 'slow-stoozing', then the 12 months on the Skycard is a good introductory period - and the longest on the market I believe.

* I'm aware that there are others who say the fee is capped at £50 but this is not my reading of the T&C's.