Stoozing With Premium Bonds

karatedragon

I was wondering if anyone here has had any trial with stoozing but using the money in Premium Bonds??? I looked on the Premium Bonds website but it appears that you cannot buy any Bonds using a Credit Card. Only a Debit Card. If it was possible then you could use the "no balance transfer fee" purchases 0% method to invest in the Bonds for any possible winnings.

karatedragon

Interesting.....

http://www.hotukdeals.com/item/304265/post-office-premium-bonds-by-credit

firesidemaid

AFAIK you can't buy them via credit card. i did the 'slow' stooze, used the 0% purchases c/card to buy everything per month and then use your unused cash to buy pb's right at the end of each month. won very little though!

i have also had a larger amount of cash in pb's too - both times i thought interest rates would have been better!

personally, i think its worth just having the minimum £100 in pb's and cross the fingers!

Rockporkchop

I did this a few years ago when stoozing was a real doddle.

I had £60,000 of premium bonds in mine and DH's name for a period of six months at one point. I didn't win a penny for the whole six months - it was extremely disappointing.

karatedragon

My Dad has £10,000 in Premium Bonds and has won nearly every month since investing - about 5 years ago. I say every month as some months have gone by with no win then he has 2 wins in another month. This month he won 3 times at £25 so that's £75 and has won £5,000. He would never have got that on £10,000 in a savings account.

ses6jwg

My grandad has £30,000 in premium bonds and has done for about 5 years.

He has never won more than £100 but gets £50 every 2 months or so.

karatedragon

LOL Maybe my Dad's luck will run out soon then!

Gorgeous_George

PBs are pants. Anyone who says otherwise is in denial.

It is gambling - nothing more, nothing less. winners often boast about their winnings. Losers tend to stay quiet. Some people describe their PB income as winnings even if they could have won more in a normal savings account.

GG

ses6jwg

Gorgeous_George wrote: »

PBs are pants. Anyone who says otherwise is in denial.

It is gambling - nothing more, nothing less. winners often boast about their winnings. Losers tend to stay quiet. Some people describe their PB income as winnings even if they could have won more in a normal savings account.

GG

I would tend to agree with you.

Hasn't stopped me buying £150 quids worth for my 2 year old to have for life though

karatedragon

Maybe so but these savings schemes that utilise the stock market are gambles too. People have gambled this way and lost big time. At least with Premium Bonds you get back what you put in not like these other "insurancy" type schemes.

Look at Money Purchase pensions. That's a gamble many have taken and have fallen foul of.

Plus someone's got to win the £1m prize. And if you can use 0% Credit Card money to buy the Bonds then surely you could be onto a winner. Plus Premium Bonds are NS&I and as far as I can ascertain they won't go bust or need the taxpayer to prop them up because they were greedy "pancake flippers" like some of the Banks have done like the Icelandic one people "gambled" with....

Any

My sister had £90k in bonds... and they won every month.
Sometimes just £250, sometimes £500...
I don't think there was a month they went below £200 though...