Noob to stooze

monki_man

Does this come with an egg card or ddo I have to request one of these account?

we should just have a chat room on this site otherwise people might get a bit peed off

Luffer

Does this come with an egg card or ddo I have to request one of these account?

we should just have a chat room on this site otherwise people might get a bit peed off

Its basically your savings / deposit account

monki_man

Wicked, lets start earning

Unbelievable_2

Luffer, Monki-man

You cannot SBT straight from your Egg card to your Egg savings account - not allowed. Instead, transfer to your current account and use your debit card to pay the money into Egg savings.

You can put a positive balance on your Egg card - plenty of peeps have done so, however it may contravene the T&Cs of the non-Egg card. If you have a 0% on Egg you may as well get the Egg money moving to savings account asap, rather than doing the BT followed by the SBT. :-/

Luffer

Thanks Unbelievable ;D

Janeryan

Can someone please suggest the best way to stooze with the following cards.
We have an offset mortgage so want to maximise amount in current account.
We have avirgin card(limit£5500.00) which can do SBT with max £35.00 fee and an Egg card (£4500.00) with free SBT.
Also have just got Nationwide card with O% on purchases and BT's until June 2005 but only with £3400.00 credit limit(got it increased from a measly £2800.00 but can't increase again for 3 months)
My current Sainsburys card has debt of £900.00(that's Christmas for you!) which I will need to find a home for at the end of this month and also need to put £700.00 on card at end of January to pay for holiday.

How should I go about this please as my brain is spinning!!

Martinslovechild

Can someone please suggest the best way to stooze with the following cards

Janeryan,

1. BT £900 from Sainsbury's to Egg.
2. BT £3400 from Nationwide to Egg.
3. BT £5500 from Virgin to Egg.
4. About a week or so later, Egg now contains a credit balance of £9800 (but £900 of this is your Sainsbury's balance now at 0%)
5. BT £8900 from Overdraft to Egg (you may have to do this in 2 goes as your Egg credit limit is less than £8900 and they probably won't allow you to BT more than your credit limit for obvious reasons).
6. Egg now contains a balance of £900 (the Sainsbury's balance).
7. Virgin balance is now £5500.
8. Nationwide balance is now £3400.
9. Sainsbury's balance is now £0.
10. Your current account is £8900 up.  You can move the money on to your flexi mortgage or savings account.

Don't forget that you'll need to maintain the monthly minimum payments on these cards.
Virgin monthly payment = £5
Other cards = 2% to 3%

MSE_Martin

Hi Noob - if you go to the credit card articles section the 'revenge free cash from credit cards' explains this all in details and the relevant cards

martin

realaledrinker

Also a must reed for everyone champing at the bit:


https://www.stoozing.com

There are far too many threads on this board suggesting that 'stoozing' is a no-risk route to easy money. IT ISN'T.

Unless:

* You currently already clear your credit card debts each month

* You are exceedingly well-disciplined money-wise and are prepared to monitor your stoozing debts on a regular basis

then what you make in tax-paid interest with egg, ING, cahoot or whoever, will qwickly be lost in interest & late payment fees.

Janeryan

Thanks for the advice Martin's Love Child.

On further thought I think I'm going to transfer the Egg & Virgin money straight into the current account(total £10000.00) then bt the sainsburys balance onto the Nationwide card and then use it for purchases up to the credit limit of £3400.00. I then still have an empty Sainsbury's card for just in case emergencies.

What do you think???

Any pitfalls to this plan that I can't see??