AVG amount possible for the AVG consumer

Pixulated

Just wondered if anyone could give me the AVG amount it's possible to stooze for the AVG consumer please since interests rates are different for a year ago.

Thanks

YorkshireBoy

There's no such thing as "average" when it comes to stoozing.

I think my stooz pot peaked at just under 200% of salary a couple of years ago...and I had around 250-300% of salary as available credit.

I'd be very surprised if anyone starting out now could reach these salary multiples...maybe 75% max, and obviously depending on other factors?

Pixulated

YorkshireBoy wrote: »

There's no such thing as "average" when it comes to stoozing.

I think my stooz pot peaked at just under 200% of salary a couple of years ago...and I had around 250-300% of salary as available credit.

I'd be very surprised if anyone starting out now could reach these salary multiples...maybe 75% max, and obviously depending on other factors?

When you say 250-300% of salary any chance of a figure on that?

YorkshireBoy

Pixulated wrote: »

When you say 250-300% of salary any chance of a figure on that?

None at all

Pixulated

I was told nowdays the AVG would be around £2000 - 2500 per year for the AVG consumer however I just wanted someone to confirm that, that is true or not.

Thanks

YorkshireBoy

Pixulated wrote: »

...around £2000 - 2500 per year for the AVG consumer

Are you talking profit or stooz pot balance (ie total amount borrowed from cards)?

If profit I'd wager that's virtually impossible to achieve at the moment (for anyone starting now).

CannyJock

Pixulated wrote: »

I was told nowdays the AVG would be around £2000 - 2500 per year for the AVG consumer however I just wanted someone to confirm that, that is true or not.

Thanks

Is this advice from an experienced stoozer? Like YB says, you won't make money like that on traditional stoozing as a newcomer. By my reckoning using the stoozing site calculator you'd need to get about £ 242k of credit, assuming you can transfer 95% of your credit

Stoozing Profit Prediction

Data entered by the user
Balance to be transferred (pounds)...... 230000
BT card interest rate (%) .............. 0
Introductory period (months) ........... 12
Balance Transfer Fee (%) ............... 2.5
Maximum BT Fee (pounds)................. No Maximum
Min Monthly Payment Type ............... Percentage
Min Monthly Payment Amount (% or pds) .. 3
Savings interest rate (AER %) .......... 5
Tax rate ............................... Basic Rate

Your Results
Balance Transfer Fee paid (pounds)...... 5750
Stooz pot balance at end of intro ...... 167575.14
Credit card balance at end of intro .... 163573.34
Gross Profit before tax on interest .... 4001.8
Tax on interest to be paid ............. 1950.36
Your Profit (pounds).................... 2051.44

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