Stoozing Refresher Help Needed!

Minskie

Hi everyone

I did a little bit of stoozing a couple of years ago and I'm thinking of trying it again. I have an offset mortgage at 3.75% and I'd like to put the stoozing cash into it to get the interest payments down, rather than putting it into a separate savings account.

Is there a way I can use the calculator to check whether any of the current credit card offers are viable?

I have a Goldfish card I use for everyday expenses which gets paid off each month (£5000 credit limit). I also have a Virgin card (£4700 credit limit) and a Barclaycard Platinum card (£3000 credit limit) which are not being used.

When I did stoozing before, I used my Egg Money card as a 'mule' to transfer the cash to my current account. Is it still possible to do this without charge?

I know that the low rates on savings accounts coupled with the balance transfer fees make it very difficult to earn money from stoozing, but is it more viable for an offset mortgage? Or should I go for slow stoozing instead?

Any advice would be much appreciated - thanks in advance! :rotfl:

YorkshireBoy

Minskie wrote: »

Is there a way I can use the calculator to check whether any of the current credit card offers are viable?

The best calculator is here...

http://www.stoozing.com/calc.php

When I did stoozing before, I used my Egg Money card as a 'mule' to transfer the cash to my current account. Is it still possible to do this without charge?

The revised (late spring/early summer last year) T&Cs now forbid positive balances. However, it's still possible to 'get away with it' fee-free.

...is it more viable for an offset mortgage?

If you're a tax payer, yes.

Or should I go for slow stoozing instead?

It all helps!

I have a Goldfish card I use for everyday expenses

Are the rewards better than the 1% Egg Money would give you?

Minskie

Thanks for the link to the calculator, Yorkshireboy. All the offers with the credit cards I already hold would leave me out of pocket, so it's a good job I checked!

I haven't ever spent anything on the Egg Money card in case I needed it for doing balance transfers. I would get in a horrible mess if I mixed spending and BT's...