Cash from a credit card...

adam.dane

Hi, I am new to this stoozing but feel I am missing out whilst reading the forum.

My question to you out there is this.

I am wanting to transfer cash against a credit card (not got one yet!) into my current account allowing me to pay for repairs to the house (cash!). Naturally I do not want to pay interest...

Does anyone have any advice.

Clariman

adam.dane wrote:

Hi, I am new to this stoozing but feel I am missing out whilst reading the forum.

My question to you out there is this.

I am wanting to transfer cash against a credit card (not got one yet!) into my current account allowing me to pay for repairs to the house (cash!). Naturally I do not want to pay interest...

Does anyone have any advice.

Hi Adam
What you are planning to do isn't stoozing, strictly speaking. Stoozing is where you borrow money at 0%, don't spend any of it but move it into a high interest account, then collect the interest on the 'free' loan.

To get credit card money in to a bank account, you need what we call a Super Balance Transfer (or SBT) card. See the link in the panel above for more of an explanation. For a list of cards that offer SBTs, look for the cards on this list that have a red dot. All SBT cards will charge you a fee (typically capped at £50 or similar) for the transaction.

Clariman