"Rate tarts skew the market"

Tr@cker

Debt free chick. You dont really think they're THAT naive do you ? Or that they have no idea what's posted on this site.

Tr@cker

Reaper, how do you know how many stoozers there are ?

Rafter

I think the giveaway that you are stoozing has to be putting a credit card account in credit (ie a negative balance) by a transfer when no debt exists.

Halifax have just changed their terms so they may bounce any BT back that puts your account into credit for example, although this is also due to trying to stop money laundering.

If Egg and MBNA follow suit then stoozing becomes a lot harder, since if you have no real credit card debt it is harder to create a balance. I guess Egg is still the winner here though since with their anniversary offer it would be possible to do an SBT to create a debt on egg, then a transfer from another stoozing card to Egg, then another SBT and so on.

It all depends how long it takes Egg to wake up and start charging BT fees or changing their terms and conditions.

As for the serial 0% offer chasers with genuine debt, there was talk in the papers a few months back about a 6 card max cap or something? If a card company can see from your credit file that you have a Mint Card, Egg Card, Egg Blue, Halifax 1 etc it is pretty obvious you aren't the most loyal customer out there and are probably just a rate tart.

R.

nearlyrich

I just got this email from Egg:

You're one of our best customers – in fact, you could say you're the pick of the bunch. And to say thank you for making such good use of your green Egg Card, we'd like to invite you to apply for a blue Egg Card – with its lovely 0% deal.

Nice little package
The blue Egg Card is the plastic that every wallet is after, and here's why: 0% on all purchases until 1 September 2005, followed by a standard rate of 14.9% APR typical variable.0.5% cash back on all purchases.Up to 10% cash back at selected retailers.No annual fee.Plus it has all the great features your green Egg Card offers, like travel insurance, an internet fraud guarantee and special Egg discounts. All in all, it's too good to miss.

They have offered me £7000 credit limit and it's pre-approved so needless to say I have applied, with a view to building my stooze pot.:j
Best bit is I took out my first Egg card last October and did a BT, paid off in full when the 0% rate expired, not sure how I qualify as "Pick of the Bunch" as they didn't make any money from me but it's "eggsactly" what I need.

:beer:

westernpromise

Al_Mac wrote:

Everyone I know in ,real life, fits in to the first group. I don't know anyone who fits in to the latter. Strange.
:beer:

Maybe not - maybe those incautious enough to get into card debt they can't pay off are also just those people who aren't moneywise enough to then transfer those balances at 0%.

So there may be relatively few serial debt-swappers compared to stoozers. You'd think the latter would be the rare refinement of the activity but I can also see how it need not be.