Halifax C Card offer

Granville23

Hi there,

I have just received an offer for a Halifax Credit Card with 0% Bt for 10 months and 0% on purhases for 10 months. This is no different than what they have on offer on there web site last time i looked but beings they have offered it to me would I be more likely to be excepted.

Also the offer of 0% on both Bt and purchases for 10 months sounds good to me. Am I write in saying that Martins rule of not BT'ing on a spending card dosen't apply in this situation.

As I see it I can do a fast stooze and a slow stooze at the same time, am I right or wrong. :rolleyes:

NickX

Granville23 wrote: »

Also the offer of 0% on both Bt and purchases for 10 months sounds good to me. Am I write in saying that Martins rule of not BT'ing on a spending card dosen't apply in this situation.

As I see it I can do a fast stooze and a slow stooze at the same time, am I right or wrong. :rolleyes:

You are quite correct, it is an exception to Martin's golden rule.

Granville23

Thanks Nickx,

just thought I would check. Its as shame though coz I haven't got an egg money card and was refused last time. might try again.

I Have got a 0% BT expiring in january but I was considering the Abbey Zero without the bt fee.

Decisions, decisions

Granville

NickX

Granville23 wrote: »

I Have got a 0% BT expiring in january but I was considering the Abbey Zero without the bt fee.

Abbey Zero appears to have been withdrawn from the website, but reports suggest that you may have some luck if you apply in branch for this particular card.

Also Egg Money appears to have been withdrawn to new applicants.

Times are getting tough for us long suffering stoozers

Granville23

Thanks Nickx

Is there any other way to get hold of this cash. i.e If one would Bt to another card and put it into positive balance, if you was then to use a credit card cheque, would they still charge a CC cheque fee. I have virginmoney cheques and think they still valid. Just a thought

NickX

Hmmm its not easy.

Cards other than Egg Money are not designed to take positive balances and it can cause problems including having the funds returned to their source or even the account being frozen under suspicion of Money Laundering.

There are some reports of success with MBNA run cards of which Virgin is one, but I suspect you would still have to pay a fee for using the cheque even if it is in positive balance.

Is there any major purchase that you need to make in the near future which you could put on the card, then move the funds to your stoozepot thereby maxxing out the card more quickly ?

Granville23

Ok, thanks Nickx

Looks like, if I am excepted for the halifax CC, it will have to be a slow stooze.

Thanks for your help

Granville

YorkshireBoy

Even if you could route through Egg Money, would you take a 3% hit for an effective 9 month stooz?...

Stoozing Profit Prediction

Data entered by the user
Balance to be transferred (pounds)...... 9000
BT card interest rate (%) .............. 0
Introductory period (months) ........... 9
Balance Transfer Fee (%) ............... 3
Maximum BT Fee (pounds)................. No Maximum
Min Monthly Payment Type ............... Percentage
Min Monthly Payment Amount (% or pds) .. 1
savings interest rate (AER %) .......... 5
Tax rate ............................... Basic Rate

Your Results
Balance Transfer Fee paid (pounds)...... 270
Stooz pot balance at end of intro ...... 8520.33
Credit card balance at end of intro .... 8468.3
Gross Profit before tax on interest .... 52.02
Tax on interest to be paid ............. 64.4
Your Profit (pounds).................... -12.38

Created using the Stoozing Calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission.

Granville23

Thank you Yorkshire boy

You are correct but I was basing it on The Alliance & Leicester eSaver account, which about a week ago was still offereing 6.30% and I am sure it was fixed for 12 months (as my dad has one) but that still only returns £54.11. But that Is 5.00% now. So i would have tried my luck and put it in Premium Bonds, or Shares if I felt like a gamble.

I have just checked on the stoozing calculator and it would be better to have the Halifax CC 0% for 15 months and 3.5% BT fee which would return £124.86. But that is with 9K. I would have probably assumed to get a modest figure of 3k but that would only make £41.62 so I would definitely try my luck on the premium bonds.

Thanks for your comments