Stoozing: Make Free Cash from Credit Cards article discussion

YorkshireBoy

neil9313 wrote: »

I take it its not best to have to many credit cards?

Was not sure re maximising my credit limits bit

Simply if you get HSBC and Egg Money, then why keep the other two cards (and their available credit) open? Chances are they will affect the limits/acceptances from other cards.

neil9313

YorkshireBoy wrote: »

Simply if you get HSBC and Egg Money, then why keep the other two cards (and their available credit) open? Chances are they will affect the limits/acceptances from other cards.

understood, thats what i meant about not having to many credit cards!


so i take it, that i best go with egg money and hsbc cc for now?

cheers for advice

CannyJock

neil9313 wrote: »

understood, thats what i meant about not having to many credit cards!

so i take it, that i best go with egg money and hsbc cc for now?

cheers for advice

For slow stoozing yup. For fast stoozing I'd be tempted to throw a Virgin Money card into the mix - 15 months at 0% for 2.98% fee and easy repayments (3% for first repaymen then 14 months at £ 25). Everyone I know who has applied has been accepted with fairly decent credit limits.

eddy556

Hi, is anyone out there having problems transferring a balance between the Halifax Amazon credit card and Egg Money? I'm getting a message saying:

The BIN Number (first 6 digits) of the first card entered is not valid for this payment.

I hope they aren't getting wise to stoozing....

YorkshireBoy

eddy556 wrote: »

Hi, is anyone out there having problems transferring a balance between the Halifax Amazon credit card and Egg Money? I'm getting a message saying:

I hope they aren't getting wise to stoozing....

They've always displayed this message online.

Fortunately, telephone requested BT's go through without a problem.

Frugaldom

eddy556 wrote: »

Hi, is anyone out there having problems transferring a balance between the Halifax Amazon credit card and Egg Money? I'm getting a message saying:

I hope they aren't getting wise to stoozing....

I tried the BT between a new Halifax card & Egg Money online without success and, as per info on this thread somewhere (many thanks, again ) I simply phoned up Halifax/Bank of Scotland and they did the BT there and then. It did take almost a week for the transaction to clear but it all went well and the cash has now been transferred to a high interest account. Good luck, hope your transaction goes as smoothly.

Frugaldom

On a slightly different subject:

The AM-EX 5% cashback offer is for an introductory period only, so I threw everything I could at the card for that period only and cleared the balances each month. At the end of the year when the cashback is paid, is it paid in actual cash to your bank account or is it credited to the card?

NickX

NickX wrote: »

Hmmm, I also had the 6 month 0% offer with the 3% fee.

I have tried a couple of times to get them to waive the fee and both times they absolutely refused to do so.

I'm going to try one more time, and I'm prepared to actually close the card this time just in case they do waive the fee at the last minute.

3% fee over 6 months is roughly a 6% APR, so not much profit to be had there.

Right tried Lloyds TSB one more time, still no budging on the fee so asked to cancel the card anyway ...... and they cancelled it :mad:

OK so went back to Ulster Bank, again tried for a no fee deal but to no avail.

However I have taken the deal that Ulster Bank previously offered me of 12 months at 0% with a 2% fee - not as profitable as I would like, but hey could be worse.

voodoo_child_3

Not convinced that stoozing it'a all it's cracked up to be: Applied for the Egg Money account a few weeks back and then applied for a Platinum Barclaycard to use for the balance transfer.

Depsite having a perfect credit history and having no overdraft/credit card balances Barclaycard have offered me a paltry £1,500 credit limit. At a 90% limit for a balance transfer that's £1,350. Hardly seems worth it.

Do they only want people with poor credit history?!

JimmyTheWig

That's a shame, voodoo_child.
I'd say do it anyway.

The more you do, the more you are showing that you can be responsible with credit cards and meet the monthly repayments.

Remember that
1. We are in a credit crunch
2. You have applied for two credit cards in a matter of weeks

So this one won't make you rich. But maybe next time you will get a better limit. Remember that now you have the Egg Money card you don't need to go through that application next time.

I, too, have a good credit history. Abbey gave me a £13k limit about 6 months ago. But this is about the 8th card I've stoozed with. I think the more you do the better limits you (tend to) get. That said, some lenders are more generous than others.