Slow Stooze vs. Cashback Cards

Bisoy

I have to admit that fast or advance stoozing is on the way out due to lender/banks now been introducing increasingly outrageous BT fees with only a few remaining that are capped. But I won't give up just yet and 2007 has been still sucessful so far.

My question is, if at any point that BT cards are no longer profitable which of the two types are cards are beneficial e.g. 9 or 12 mos. 0% on purchases or cashback cards?

cheers

watcherman

I would say it depends on your circumstances. With an offset mortgage I benefit more from 12mths 0% than I do from 1% cash back over 12mths.

Bisoy

Thanks watcherman I am not in a position to offset my mortgage which I am planning to do after my fixed period till 2009.

Any other thoughts on stoozers who aren't offsetting their mortgage?

oldfella

stoozing wins - you get roughly 50% of your annual spend at say 5.5% - or 8-10% if you use regular savers

so its a maximum of 1% cashback or 2.75-5% via stoozing - both less tax of course.

Mike

EagerLearner

Someone told me that stoozing works until say 2 months before your 0% is due to end. For example, mine ends early November. They said stooze until early September, then start to use the cashback card at 1% again. Not sure if it's right but it seemed to make sense at the time!