STOOZING - phase two

rogue_elements

so let's say i got a card and used it for purchases a la the martin method as described, so for example i had a credit limit of £1000. so i spend that £1000 on the card and saved that cash in a high savings account (along with any other saving i had but lets keep this simple).

so then at the end of the interest free period for purchases on the card, i had that £1000 (plus some interest), and i need to pay off the £1000 on the card.

what are my next steps EXACTLY
and how long before the interest period runs out should i take them?

i go for a BALANCE TRANSFER card, transfer the £1000 to that
if i want to CONTINUE, building up my savings, should i then ALSO go for a BRAND NEW 0% spending card
i.e. cancel the first card and take out these two more
if i can get a £1000 credit balance transfer and a £1000 credit spending card again (or hopefully more) would i then transfer the debt to the new card, keep the cash in my bank (mINUS the balance transfer fee which i would pay out of my interest - or does the balance transfer fee add on to the card debt?), and THEN keep spending on my new card and do the same again..

on phase 3 i would then need to get a £2000 balance transfer if i wanted to transfer it all or enough to cover my entire card spending 'debt'... what if i cant find a balance transfer to cover the entire amount? is it game over?

rogue_elements

also if i exhaust my spending limit before the interest free period ends, should i get a new spending card then or get a new balance transfer? what should i do first?

rogue_elements

CAN YOU JUST GET A HUNDREDE THOUSAND CREDIT CARDS???/ is it fine to get them all?

jamesd

Yes, you can continue getting new cards when you use up all of the 0% limit on existing cards. You won't be able to get every card because you're likely to find that card issuers won't give you more than half of your gross income in all forms of unsecured credit combined. That will force you to pay off and close some cards before you can get replacements for them.

splatt30

Don't forget to pay the minimum each month or you'll loose the 0%.
With current rates unlikely to find an account which will pay enough interest to cover the balance transfer fee.