is it still worth stoozing?

gazgeordie

hi, im on woolwich tracker mortgage (+.74% bbr) ive been stoozing 5k against my 70k balance. its due to be repaid in march, is it worth it to keep swapping the 5k to a different credit card (paying approx £150 fees) when Woolwich s tracker rate is so low. thanks for any advice in advance.

Tesco_points_addict

Will you get interst free for 12/18months? If so you need to work out how much interest you will save i.e. your mortgage rate Woolwich tracker is 1.5% from next month plus your .74 so 2.24% so £5,000 at this rate would save you £112 over a year and your costs are more than this. (I think!)-however these are very basic workings out as if course you will be repaying th card little by little each month and therfor will not be earning interst on this amount. You could always take the money and put it in a higher interest account rather than your Woolwich account therefor gaining more interest. However all savings rates seem to be falling. Personally I will not be stooging once my last card is paid off, not worth the hassell now for such a very small return

TPAx

stevemcol

I think it's only worth it now if you can get zero transfer fee.
It was good fun while it lasted.

rodent

As long as you make more than it costs then you would be a fool not to ...
There are many ways to skin a cat !

"Good fun while it lasted"......I think "when the going gets tough, the tough get going" is a far more rewarding mantra ?

The Rodent