INFO: Skynews - 0%BT's to end soon

Tim_L

Credit card issuers are aware of stoozing, but despite what others have said are far more interested in building overall market share than any losses from the practice. If they were really interested in stopping serial rate tarting, it wouldn't be difficult to detect from the data held at the credit agencies. However what they are more interested in is the prospect of being repaid, and this is where the focus of the credit checking is.

As to revealing information on these boards, probably it's worth saying that stoozing isn't exactly rocket science and none of the techniques would come as a surprise to anyone at the card issuing companies. The new conditions probably reflect the fact that the initial marketing campaigns at places like Mint and MBNA have been successful enough at establishing market share, so they can throttle off a bit on the generosity of the deals - it's interesting in particular that MBNA are very keen indeed not to lose any customers, and seem to be happy extending the 0% almost indefinitely.

As the SBT cards and longer term deals (9 months) become more restrictive, my own focus is moving back to 6 monthers - there are loads of these around, and I think this will remain the case as the second tier lenders scrabble for market share.

Mr_B_13

See another article/thread on this subject:

http://forum.moneysavingexpert.com/cgi-bin/yabb/YaBB.cgi?board=Questions;action=display;num=1105366862

Seems the scare mongers are at work through the press association, Sky and Mail on Sunday! Just in time to prompt people to apply for more cards ...

Mr B

InsuranceLiability

Credit card issuers are aware of stoozing, but despite what others have said are far more interested in building overall market share than any losses from the practice

That is exactly right and as long as at least one credit card company is looking to increase its market share it will continue to offer 0% balance transfers despite the minimal loss it might make. Stoozing, as you call it, has been around a lot longer than this website.

Also always remeber the current figure I believe it only takes one missed payment to cover the losses on 6 new accounts.

0% BTs are only a very small part of a large marketing budget. You dont see news reports about credit card companies stopping junk mailings