Barclaycard offer

mrs_T

I have an offer of £10k at 0% till 1/3/15 for a 2.9% fee. I don't have a mortgage to offset and I am a basic rate tax payer. Any way to make this profitable?

Archi_Bald

Try stoozing.com for a calculator that will help you work out what's possible. Though you will find the answer is very little since there are no accounts you could dump £10K into for profit. You might just find a home for £5.5K but the possible profit will be minute. They know why they charge 2.9%.

jimjames

mrs_T wrote: »

I have an offer of £10k at 0% till 1/3/15 for a 2.9% fee. I don't have a mortgage to offset and I am a basic rate tax payer. Any way to make this profitable?

Pay off a £10k debt on a credit card that is charging you 20%?

mrs_T

Thanks but I have no debt and I have tried the calculators but can't see a profit.

Archi_Bald

I think you are right. Even if it was a super BT (which I don't think it is?) the absolute maximum you could possibly make is about £34. Probably even less since you would need to have the accounts ready for a running start, and you'd need to shift money about each month. You can probably find more if you look for coins lost in the street and shops.

mrs_T

If super bt means money from credit card into my bank account then yes it is.

PeacefulWaters

Nationwide sexy flexi current account at 4% net for £2.500, subject to funding conditions. 50p a week profit.

Clydesdale / Yorkshire bank current accounts paying 3.2% for £5,000. 30p a week profit.

Not sure I could be bothered, but that's not very MSE of me! Oh for the halcyon days of higher savings rate and fee free interest free credit card cash!

Reaper

I used be be a big stoozer in the days of 0% credit cards, no fees, and high interest rates but those days are gone, as is the best card to convert debt into cash (Egg Money).

If you are determined to try there is a dedicated forum for stoozing on MSE here:
http://forums.moneysavingexpert.com/forumdisplay.php?f=95

mrs_T

Thanks I already have £12k stoozed but am always tempted if I can make a profit, not worth it in this case.