Stoozing Options - First Time Help?

Cardinal-Red

I've followed with interest the Stoozing advice on here and I've worked hard (again following advice on here!) to get myself into a situation where I can now start.

Still have some debts on my 0% cards which should be paid off by the time the offers end, and then I can start fully.

However, I do have a 'spare' Capital One Platinum Card, limit £6000, with a life of balance transfer rate of 5.9%, and SBTs available.

Is there anyway to benefit from this or is the rate just too hire to genuinely stooze with?

Thanks in advance...

Walletwatch

That is not worth it, it'll actually make you a loss, unless you have other debt at higher rates and are transferring them to such a card. Assuming you're a basic rate tax payer, the best net interest rate you'd get is 4.4% (the egg savings account), while you'd be paying out @ 5.9%.

The minimum life-of-balance that I'd consider worth stoozing is the 1.9% band one hears of (not even the 2.9% as again, at those rates, a limit of £10000 maxed out would only give me a max of £50 per year, or £1 per week) Not worth it, in my opinion, at least I wouldn't go for it.