Some advice - Stooze cards coming to an end

11cas

Hi all,

I'm after some advice. I've been slow stoozing for a little while and myself the the OH have the following cards:

-Tesco-approx £1350, limit of £1500 - Mine-0% deal ends early April
-AA (MBNA)-approx £2k, limit of £3k - Mine -0% deal ends early April
-Halifax -approx £2k, limit of £3k - OH - 0% deal ends late April
-Santander Zero -Approx 4k, limit of £4400-mine-0% deal ends mid Feb

I want to continue to stooze and to do this the OH was going to apply for a santander 0% BT for 13 months, with no BT fee and then BT the Tesco, AA and Halifax over. I had thought I could then apply for a Halifax clarity card with no BT fee, do a BT from my santander zero to the clarity card and then BT to the OH's new santander card.

I was just wondering whether this would work. My only concern is how much interest I would potentially pay on the £4k which I would BT to the clarity card and then hopefully very quickly BT it to the new santander card. I guess it would only be a week maximum that the money is on the clarity card. Not sure how much that would be?? Or do you think it would be better for me to pick a card with a low BT fee and do it that??

I'm keen to keep stoozing because we are currently offsetting our mortgage at a rate of 3.79%.

Me and the OH have an income of approx £33,500 each. We have no other loans apart from the mortgage.

Any advice of what you think I should do, would be appreciated. Thanks for reading

Jammi

Your plans appear perfectly workable to me providing you get the limits you need on the new cards.

If you get the Clarity Card at 12.9% Apr, the interest you'd pay while £4000 is waiting to be transferred to the Santander card would be about £10 per week. A low BT fee card would probably cost you about £100, where the fee is 2.5% of the balance transferred.

One other thing though, have you been offered the santander 13 month transfer with no fee, as their website shows a 3% fee applies

11cas

Thanks for the reply.

I contacted santander by phone and popped into a branch and was told both times that the 13 months no BT fee was available for current account or mortgage customers (but like you say it's not mentioned on their website). But I'll be checking again before we apply (because I know santander's reputation isn't the best!).

Thanks again

CannyJock

11cas wrote: »

OH was going to apply for a santander 0% BT for 13 months, with no BT fee

Is now 6 months, not 13 for the 0% fee card.

You don't have an HBOS card, might want to consider one of those.

Neither of you have a Barclaycard, again one to consider.

Full list of BT offers on the stoozing site http://www.stoozing.com/0fees.php