One wage and stoozing?

kemo_2002

as a single waged family i was interested in stoozing as a little bit of extra income, ive looked as quite a few posts saying you have 7k + on credit card, however we could never get that amount, would probably only get about 2k max, so is it really worth it for us?

really newbie at this, im good with money and figures if u could just get a grasp of it!

co123456

I'm single waged (though reasonably well paid) and manage to turn a profit. Not a huge profit, but enough to pay my gas and electric each month.

CannyJock

kemo_2002 wrote: »

as a single waged family i was interested in stoozing as a little bit of extra income, ive looked as quite a few posts saying you have 7k + on credit card, however we could never get that amount, would probably only get about 2k max, so is it really worth it for us?

really newbie at this, im good with money and figures if u could just get a grasp of it!

Try the stoozing calculator to predict your profit http://www.stoozing.com/calc.php

kemo_2002

thanks, on one CC id only make about 100 in a year, is the idea to have more thn one?

moneysavingmarrow

You sound like the ideal candidate for "slow stoozing" by having a 0% purchase card to use on your outgoings while stashing your salary away in as high an interest account as you can find.
Do you have a mortgage which will take overpayments and allow you to draw that overpayment down at a later date?

CannyJock

kemo_2002 wrote: »

thanks, on one CC id only make about 100 in a year, is the idea to have more thn one?

I'm down to 5 cards at the moment approaching my next round of applications, typically running around 40K-60K being stoozed at any point in time.

metalfury

Originally Posted by kemo_2002
on one CC id only make about 100 in a year, is the idea to have more thn one?

Yes if possible get more than one card but read all the guides first and consider the impact of the applications on your credit rating.

I have around 4 cards at the mo, but have had several more in the past. My CLs are usually in the range of £1.5K-£4K. When I had several cards (combined with a good rate of interest) it worked out well worth doing, now there's still money to be made but the margins are tighter.

Even if you only got £100 for one card it's not bad for 20mins filling in an application and a little bit of admin time setting up Direct Debits.