Is this Stooze worth it?

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.

Replies

  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    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.
  • splatt30splatt30 Forumite
    337 Posts
    Part of the Furniture 100 Posts Combo Breaker
    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
This discussion has been closed.
Latest MSE News and Guides

Who can suggest a top-notch bed?

This Forumite's mattress is in need of a base

MSE Forum

Top theatre lotteries

How to grab £10-£25 tix for Cabaret, Matilda etc

MSE Deals