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Is using 0% Overdraft into cash isa stoozing?

Financial_Savvy · 2006-04-01 09:40:13

Hi, It is still called stoozing when you take the 0% overdraft (12 months I think) that A+L offer you when you get a new current account and then put the cash into a mini cash isa (also A+L)??? I am familar with the practice with stoozing from a CC (I am doing this at present with HSBC) but never practiced it with a over…

Comments

Clariman Posts: 1,484 Forumite

1 April 2006 at 10:56PM

grumbler wrote:

http://www.stoozing.com/stooz_intro.htm : So, strictly speaking, making money from 0% overdraft is not stoozing. Does this make any difference to you?

Perhaps I was being a bit too restrictive in saying that. I would include borrowing 0% money from an overdraft and earning interest on it as stoozing. Using an overdraft by itself is always going to be small scale stoozing, so to do more full blown stoozing you would need a credit card.

Clariman

Author of the first Stoozing FAQ on the Internet and Creator of the SOA & Snowball calculators at Lemonfool.co.uk

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