Stoozing

jozvaldo

Hi

I am fairly new to this forum and although I have been reading a lot of threads in detail - would somebody be able to expalin what exactly stoozing is and how it works - a kind of beginners guide - as I am very interested.

thanks in advance

eggfan

See http://www.stoozing.com/

Leia_Stephens

See http://www.stoozing.com/

I have just read some of this web site and I think I have made a stoozing mistake :-[.

I have requested an SBT between Egg and my current a/c but I am not sure that I made the correct request.

I received this e-mail from Egg yesterday:
The balance transfer that you requested . . . has been processed. You'll see this transaction on your Egg card a/c and on the a/c from which the transfer has been made, no later than 7 days. You should continue to make your normal payments to your card, loan or overdraft a/c until your other lender has received the bt amount from us.

I'm sorry if I'm being dense, but from this e-mail I don't know if I will have a negative balance on Egg and a positive balance in my current a/c - which I want - or the other way round ???

Leia

Rafter

Leia,

I think you are ok.

You have transferred cash from Egg to your current account.

You will have cash in your current account to move to savings and stooze.

You will have an 'overdraft' or normal credit card balance with Egg at 0% presumably.

Remember that stoozing is technically in breach of terms and conditions. You should only use balance transfers to pay off other debts, not earn interest in savings accounts.

R.

Leia_Stephens

Leia,
You have transferred cash from Egg to your current account.

Thank you for your thoughts, Rafter, I hope I have done this too ;D.

Technically I am not stoozing properly at the moment, because I owe Mint £600 and Barclaycard £250, but my cash from Egg will sort this out .

Leia

johnllew

Remember that stoozing is technically in breach of terms and conditions.

Why? Transferring from an Egg Card to a current a/c that is not overdrawn is perfectly within Egg's T&Cs:

2.4 You can ask us at any time:

to pay off an amount you, or your Additional Cardholder, owes to another UK lender and transfer it to the Account, as long as the amount transferred would not make you go over the Individual Limit and is £100 or more and is not used to discharge your or your Additional Cardholder's indebtedness to any part of the Egg plc group of companies;

to transfer (by direct bank transfer) an amount from your Account directly to a specified current account held by you or an Additional Cardholder as long as the amount transferred would not make you go over the Individual Limit and is £100 or more.

nh

What happens anyway when you get caught breaching terms and conditions? You might get your card taken off you - but they're not going to do that are they cos they want to make money out of you and if they think you might make a mistake at the end of your 0% and then owe them money, or even forget to pay the money back at all within the 0%.

Until someone gets into some serious trouble through stoozing I say carry on stoozing and stop trying to put people off doing it!

Certainly it is not against Egg's T&Cs, even on the website as you do a BT, it says "pay off an overdraft/into a bank account" not just "pay off an overdraft".

Leia_Stephens

Until someone gets into some serious trouble through stoozing I say carry on stoozing!

I certainly agree with this, thanks nh ;D.

BTW, my SBT worked ;D ;D.

My Egg card now has a negative balance , and I am waiting to have a more positive (I am not using my overdraft at the moment) balance in my current a/c, hopefully it will happen by Friday .

Leia

Leia_Stephens

Well . . . my SBT came through to my current a/c today ;D, I first requested it from Egg on Monday this week .

BTW, I phoned up Egg customer services yesterday and discovered that - with my 0% deal ending on 1st May - to meet the deadline safely I should make an electronic payment by Wednesday 20th April, or pay by debit card on Friday 28th April; the woman I spoke to was very helpful.

Leia