Stoozing

david_p_2

Hello
trying to get my head round this stoozing and how you make some money out of it?
i have just got a Tesco 0/0 balance transfer card, which i am putting my natwest c/c balance of 1200 onto and will be paying £50 a month off this card
do i do my shopping / petrol / and other stuff on the natwest c/c which i will pay off each month to make savings?
newbie to all this
thanks

mrs_T

The principal of stoozing is to start with no "real" debt so that the balance you transfer can be banked at a higher rate of interest than the fee you may have paid for the balance transfer. If you have a "real" debt you will make money by paying it off during the interest free period and saving what you would have paid in interest. If you had no debt you could use an interest free card for purchases as long as you banked the money you would have spent and earn interest on it.

MallyGirl

it is harder to make money stoozing with the current interest rates but they weren't always this low and at some point they will go up again. In the old days you could also get fee free 0% money transfers from Egg which were good news for offset mortgage holders like myself.

david_p_2

thank you for your replies. i have done the balance of £1200 with no transfer fee on a 19month no interest deal, will be paying minimum £50 a month, so will see how it goes

mrssjs

. ignore post

plunt

whats the credit limit on the tesco card?