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Please help-Credit card info

jow11
jow11 Posts: 3 Newbie
in Credit cards
I heard somewhere that its possibble to make money from credit cards?

Is it possible to open an account, take out a credit card and transfer the balance across resulting in making money out of the credit card company??

If so what is the best wat of doing this, the best account to open, the best credit card to take out and are there any catches I need to be wary of????

Thanks

Jow11

Comments

  • Clariman
    Clariman Posts: 1,484 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    jow11 wrote: »
    I heard somewhere that its possibble to make money from credit cards?

    Is it possible to open an account, take out a credit card and transfer the balance across resulting in making money out of the credit card company??

    If so what is the best wat of doing this, the best account to open, the best credit card to take out and are there any catches I need to be wary of????

    Thanks

    Jow11
    Yes this is all possible and is known as "stoozing". There are plenty of catches if you do not plan it carefully, so you have to read up on it. MSE has an article on it which you should be able to see above. Also there is a stoozing discussion board here and there is the stoozing website which I run and Martin Lewis sponsors.

    Clariman
    Author of the first Stoozing FAQ on the Internet and Creator of the SOA & Snowball calculators at Lemonfool.co.uk
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    http://www.stoozing.com/
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