Am I Addicted to Stoozing?!

shortcrust

Agrrr! I plan to get a mortgage next year so intended to pay off and close my 0% cards as the deals expired over the next few months. So much for that - a late night application to Lloyds and I've ended up transferring the lot to a new card. I think I've come to see the money in my savings accounts as my money and I don't really want to give it back! Hey ho. There was no balance transfer fee so I can still pay it off having made a few more quid.

Herbalus

The danger you're aware of is having a lot of utilised credit on your file. You should be alright though: ability to repay is more important these days.

The danger you might not less aware of is spending the stoozed money on your deposit (or the temptation at least), and then you don't have it stoozed to pay back if you need to...

mrs_T

I think I am addicted, did post office platinum http://www.postoffice.co.uk/credit-card yesterday even though they only gave me a rubbish £1k credit limit which meant I could only stooze £800 from it. I recently paid off a large balance on a natwest card because I wasn't organised in time to transfer it and now I want to build my balances back up.

I know it's not my money but it is handy when like last year I want to change my car and I can pay cash and then save up the balance again, which I have done, an interest free loan.

Nebulous2

It's very easy to see it as 'my' money. I only dabble in stoozing, but use a 0% purchase card to shop with and stick the equivalent money into savings. I have a 0% Santander card running out in mid-August. A combination of paying extra/ money from interest/ minimum payments reducing the balance, means I have over £4000 ring-fenced for it against a debt of £2800. Yet I still don't want to pay that £2800 back because it will deplete 'my' savings.

markharriers

Hi all

I have just opened a Santander 123 account i have a decent amount of money i have read all the pros and cons im very good with my money and i wanted some of you kind peoples advice on stoozing.

I have just received my 23 month in interest free credit card from Santander 0 percent balance transfer and cash back on spending.

My main question is my limit on the card is £4600 which is a little low but the thing on my mind is if i go high say get another card or try and higher limit on this one will it effect my ability for credit? i.e if i go for a mobile phone contract ect.I would very much appreciate your knowledge on this just to iron the fine wrinkles i am curious of.