Stoozing: Make Free Cash from Credit Cards article discussion

CannyJock

Synonymous wrote: »

Hi Guys, I've been slow stoozing for a while but for the first time I'm thinking of doing a balance transfer. Just want to check the figures in case I'm missing something.

£1,700 Tesco Clubcard CC, 0% on purchases ends July.

BT from Santander zero card - no BT fee, I've just opened the A&L Premier Direct for the £100 and £45 cashback and overdraft to stooze, so I am an existing customer. It seems a 'waste' of a fee free transer to move such a small amount (the card is up to its pitiful limit), If I get this transferred with, for example a month of 0% on the Tesco card, could I spend again on this and do a second BT to Santander, as long as its within the x amount of days for BTs and the maximum BT amount? Or even transfer the first few months purchase off the Halifax card without any comeback? I will be buying furniture for a new house so could whack some big purchases on one of them and move them over.

Credit report wise, I have just got a new Halifax CC at 0% for 12 months for purchases with a CL of nearly £4k so this is a recent search, and I also just had a mortgage offer agreed so I presume this is a search too? I want to try for the Zero and get this sorted, but will leave proper stoozing for a while to spread out searches as I would need to apply for an Egg Money card.

Hope that makes sense, thanks!

Doesn't really but then it's late so maybe I'm not reading it properly.

Basically if you have a 12 month 0% purchase card in April there's no point getting a Santander Zero 12 month 0% BT in May and transferring the balance each month - you're only gaining 1 month.

It might make more sense to just use the 0% purchase card, put the spent money into your stoozepot and slow-stooze it that way. Then, in 9 months time, maybe try and get a Santander Zero card and BT the Halifax balance onto that ... if the Santander Zero card is still fee free and available

Mortgage application will result in a search - you should check your credit report to confirm.

You could get the Santander Zero card to BT the Tesco balance onto it - but you'd be best checking what recent searches you've had first. If your Halifax and mortgage application are recent then might be worth waiting till the searches are older to increase the chance of a successful application. If you're slow stoozing then it's just a case of clearing the Tesco card from your stoozepot.

EDIT: With the Santander Zero card, you can do as many 0% BT's as you like during the 0% period, so you could "top it up" each month as you make the minimum repayments.

Synonymous

CannyJock wrote: »

You could get the Santander Zero card to BT the Tesco balance onto it - but you'd be best checking what recent searches you've had first. If your Halifax and mortgage application are recent then might be worth waiting till the searches are older to increase the chance of a successful application. If you're slow stoozing then it's just a case of clearing the Tesco card from your stoozepot.

Thanks for your reply - the above is the main objective of my question. I don't want to pay it off from my pot so that I can keep earning the interest, I guess thats a step up from slow stoozing. Also, the reason I was thinking about doing a BT for the first few months of the Halifax card is that I could easily max out the £4k in 12 months with moving house, so shifting the first few months would mean that credit would last a bit longer - I know its not worth it just to extend the 0% by a month. Hopefully the limit on the Zero would be more than £1.7k so I could shift a bit extra over.

I can't seem to find the full t&cs for the Zero card on the Santander website so can't tell what the balance transfer period is, how many are allowed or a maximum value. :think:

CannyJock

Synonymous wrote: »

I can't seem to find the full t&cs for the Zero card on the Santander website so can't tell what the balance transfer period is, how many are allowed or a maximum value. :think:

https://applyonline.abbeynational.co.uk/OnlineAppsWebCC/static/terms_and_conditions_popup.html

It doesn't define everything about the promotion - but those of us who're actively stoozing on them have spoken to their CS people and put it into practice to confirm the mechanics.

You can BT up to 95% of your available credit as many times as you like during the promotion - the 0% BT fee lasts for the duration of the promotion.

emmatinsley

:money:Please can someone help me. I booked some rooms with travelodge and had to cancel them I gave them 2 months notice and was told that I would get a full refun. After 3 months of emailing them, sending letters and calling them I still have received no refund and it's about £650 so lots of money. Who can I talk to??? I held for 1 hr and 15 minutes trying to get through to their complaints line but had to hang up - who can I talk to on this to get my refund. Any advice would be appreicated.

Thank you

Emma

slush

The wife and I are trying to get a stoozing pot underway. But not having much success, despite the fact that we have have zero debts.

She has just been successful with getting a Tesco CCard, albeit with not exactly a massive credit limit. But its the start of our stoozing pot by using this card for spending up to the limit and paying off the monthly minimum and sticking the spend in an A&L current acc. to bring in 5%

The wife has a CCard which she currently doesn't use. Should she close this now she has got the Tesco one so that she should be able to get another card in the near future?

I have just been refused new credit card applications (Halifax, Virgin & Tesco) and am waiting for 2 more reports back (Experian and Callcredit). The online Equifax revealed all green, but showed a financial associate who we've never heard of. I have raised this with Equifax, but they haven't responded yet.

I currently have 2 CCards with a combined credit of just over 13K, Barclaycard and HFC neither of which have been used really in years. Should I close these so that I don't have this amount of credit showing as being already available to me?

JimmyTheWig

slush,

I suggest...

1. Make sure you get the financial associate sorted out. That might be seriously affecting your rating.
2. Stop applying for credit. If you've had three recent applications, I'd say don't apply for any for the next 6 months. Lots of applications would make you look desperate.
3. Keep the existing cards. Spend on them each month and pay the balance off in full each month. Paying the balance off in full wil mean you won't pay interest. Only use them for things that you would normally spend money on (e.g. weekly shopping, petrol) so that you don't waste it. You may find it helps if you put aside the money that you spend on credit card from your current account straight away so that you don't spend that money twice. It's probably worth setting up a direct debit to pay off the balance in full each month. That means you won't miss a payment.
4. Check that you are on the electoral roll. I would imagine that Equifax would have flagged this and you would have mentioned it, but thought I'd better check.

Do all of this and in 6 months you should be ready to try again.

slush

Thanks for the reply JimmyTheWig.

The electoral role flagged up an issue 17 years old... and I'm trying to get Equifax to provide an considered answer to; rather than the standard off-the-shelf answer that they keep sending me.

My report shows lots of activity... where I have been hunting those elusive extra £s interest & rewards. 7 current accounts are shown. Abbey, A&L, Vantage, HBoS etc. These are all working fine, no debts, bringing home a healthy return.

6 months with no stoozing on my part... means that the pot building (via spend) is going to take us an age!

What about my wife, should she close that un-used CCard whilst maxing out the new Tesco? Or keep it; use it and pay it off in full each month? Or will the maxed out Tesco card negate any positive benefit that might bring?

YorkshireBoy

slush wrote: »

I currently have 2 CCards with a combined credit of just over 13K

JimmyTheWig wrote:

Keep the existing cards

But probably not the limits?

slush

Should I ask them to be cut? Won't this look strange on my credit report? As it could look as if the bank had reduced it, making it look like they thought I was a risk?

Master_Wood

Hi
I want to know how can I tranfert money from credit card to another account