Is this Stooze worth it?

splatt30

I currently have a Virgin card with a balance of £10,600 on it with 0% interest until the start of May next year.

I've just checked my account and they are offering me a new balance transfer or Super balance transfer at 0% until June with a fee of 2.98%.

I could transfer put upto a further £6000 on a SBT, but I figure I'd have to clear the whole balance by the start of May, or risk paying interest as the initial BT will then be off of offer.

The SBT would be into my savings account which offsets my mortgage at 5.98% (I know!!!! fixed at the wrong time!!).

For only 8 months I don't think it's really going to be worth the BT fee. What does anyone else think. I was so surprised to see and additional offer and was initially very keen but i don't think the sums add up.

YorkshireBoy

Check the profitability here...http://www.stoozing.com/calc.php

Check also your T&Cs* because I believe when you have two 0% promotions running they now apply your payments to the promotion expiring first, meaning you could run the second stooz on a month.


* Be sure to check your own T&Cs, including any notices of variation received, NOT the current ones on the Virgin site.

splatt30

Thanks Yorkshire,

I like that calculator. If I have to pay it off by start of May with my other BT I make £54. If I have til June I make £113 according to that calculator.

Guess I best ring them to see how it would work with 2 seperate balance transfers!
Thanks