How did you 'Stooze' before SBT's.

Grumpy_Old_Duffer

Thank god for the Credit Card 'mules' where you can transfer Credit Limits from them, and other Credit Cards, straight into a Current Account.

But how did this system work before then??
How did you, in effect, get your hands on the 'dosh'?

johnllew

Grumpy_Old_Duffer wrote:

How did you, in effect, get your hands on the 'dosh'?

Convenience cheques. Many CCs didn't charge a fee and often gave IFPs on them too: Bk of Scotland, Tesco, Direct Line, Scottish Widows, Trustcard to name just a few. Those were the days.

Chris2000

RBS Advanta also had no charges and an interest-free period on cheques, which they openly publicised. They would hapily send out more cheques on request (unlike Halifax, who won't send any more cheques for my Clear Flat Rate card). Those were the days, indeed :-)

Several cards also said in their T&C that they would charge interest on cheques from day 1, but in reality they didn't charge interest as long as the full balance was paid off by the due date. Co-op Bank was one of them, but not any more.

Bargain_Rzl

There's also the somewhat slower and steadier way - getting yourself into needless debt (by spending on a 0% purchases card) then when the promotional period is up, get two new cards - 1 0% on transfers (to take care of the old card) and a new one to continue getting 0% on purchases.

I've currently got a pure stooze of £5k from Egg, but also my new Sainsbury's card which is giving me 0% till next March. I can top up the Egg account with BTs from the Sainsbury's account whenever they've taken a monthly minimum payment (to maximise the stooze) and I hope to replace them both when they expire.

deemy2004

Yeh remember to save at least an equal amount to what your spending on the 0% card

lipidicman

I do this scrupulously deemy, but it seems so much harder than just using my debit card. It really feels like I'm earning the extra interest. Oh well you do get extra protection with the credit card too!

Nesima

Bank Account and Credit Card with the same company, make BT to CC,you then transfer the positive balance on the CC to the bank a/c.
It is not a cash advance because it is your money, therefore there was no fee.

mpet

I'm totally new to 'stoozing'(I've spent most of my time 'tarting' between 0% deals. Now I'm almost at £0 on my card balance, I like the sound of making some free money.

I understand that a few companies allow you to BT to your current account, but is is possible to BT to a card that has £0 outstanding (I wasthinking of my Egg card), then moving the Credit to a savings account?

Sorry if this is an obvious question, I have searched a few threads but can't find an answer

Mpet