I know there's a few threads dealing with this subject but I thought I'd see whether anyone has any success/horror stories with this particular tactic.

I'm 1 month into the 12months interest free period for purchases on a Barclaycard Platinum. I called their customer services last night to check whether a mortgage payment would be classed as a purchase or cash advance (I seem to remember hearing that Capital 1 classed mortgage payments as cash advances, thereby incurring the 3% fee). The advisor confirmed that B'card would treat it as a purchase, so presumably there would be no additional fee. I've also checked with the mortgage providor (Natwest) who confirmed that there would be no additional charge for paying by credit card.

I know the best advice is to get anything like this in writing but I figured I'd be waiting forever for them to send a bespoke letter to this effect, so I'm going to go ahead for a month to try it out. If the worst comes to the worst and they charge a cash fee it'll show on the next statement. The stoozed cash will be going into a Lloyds Vantage so it'll be a pretty small overall loss to find out if it works.

Has anyone else done this and been caught out?


  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Long running thread on the stoozing site here...


    You say it's going into a Vantage account. Does that mean you'll be asking for a drawdown of the funds only just paid to the mortgage provider? Might ring a few alarm bells? And mean you only get one shot at it...thereby precluding a 'test run'?
  • Thanks YorkshireBoy, that thread's got some pretty interesting strategies. I think what I had in mind was more of a slow stooze, we 're still in our discounted period so would attract an ERC on any overpayments, plus the rate is still so low that the cash would work harder in Vantage. Therefore there wouldn't be any single large drawdown to pay into the mortgage account.

    The idea was just to pay the monthly payment on the 0% card, stash the cash which would've been used in the Vantage until the end of the 0% period and then do a BT to whatever is the best deal available at the time (or simply pay it off and keep the interest). As far as I can see the only possible drawback would be incurring a cash advance fee (which for a one-off wouldn't be so bad just to find out whether it can be done). Unless I'm missing something really obvious, which is certainly not impossible...
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