0% Credit Card to Stooze on Mortgage

Halifax do a credit card with £0 cash withdrawal fee. Tesco do one with a 0% balance transfer fee.

If I (open an account with both and then) withdraw up to my limit on the Halifax card, can I then transfer the balance to my Tesco card, pay 0% interest for a year, and use the cash to make an overpayment on my mortgage?

The intention is, of course, to make a single overpayment now reducing interest on the mortgage due to lower balance, then making a repayment on the credit card each month (which will accumulate no interest).

It all seems to make sense but I've never stoozed before! Is it all above board?

I currently overpay monthly on my mortgage each month by direct debit, interest being calculated daily.


  • YorkshireBoy
    YorkshireBoy Forumite Posts: 31,541
    Part of the Furniture 10,000 Posts Name Dropper
    Have you considered the impact of making such a large cash withdrawal (or several smaller ones) on your credit rating in the short to medium term?
  • stevemcol
    stevemcol Forumite Posts: 1,666 Forumite
    Can't you use a super balance transfer card instead?
    Apparently I'm 10 years old on MSE. Happy birthday to me...etc
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 340.2K Banking & Borrowing
  • 249.1K Reduce Debt & Boost Income
  • 448.3K Spending & Discounts
  • 232K Work, Benefits & Business
  • 603.2K Mortgages, Homes & Bills
  • 171.6K Life & Family
  • 245.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards