Stoozing: Make Free Cash from Credit Cards article discussion

geet

Thanks YB, was away but now must apply for new card - saw the 16month 1.5% fee Virgin card - looks the best for me if i can get 15K off them. Any snag I have not detected? G.

geet

The snag has happened!!! Has this happened to anyone else? I applied for the Virgin card from the link provided here and all went fine and i even got a page saying my application was successful for £11900 (had requested 16K and so was disappointed) and then it disappeared and a page appeared with Sorry - the credit card application you requested is temporarily unavailable.

I am shocked! I need to apply for another card soon and am worried that this virgin application that seems to have become unavailable after showing me a congrats page with a credit limit will mean a check on my credit file and that when i apply for another card in a day or two my credit limit is going to go down. Any thoughts.... help!

geet

Update: I called Virgin and they said my application was successful and this has happened to others too - they are looking into it. G.

geet

Latest update: Nearly 11K at 1.5% fee from virgin has come to c/a thru egg money - muling successful.

tesuhoha

Could someone please advise as I am not altogether clear on this. With slow stoozing where the 0% credit card is for purchases, is there usually a fee charged for this?

cashandeo

Hi,

The article says pay off the minimum each month to get interest-free credit, but if you look at the T&C's for the cards (e.g. Tesco) then you see that the interest-free period is 51 days but only if you pay off the balance in FULL.

Can some one explain this apparent contradiction?

Thanks,

C.

minno_2

tesuhoha wrote: »

Could someone please advise as I am not altogether clear on this. With slow stoozing where the 0% credit card is for purchases, is there usually a fee charged for this?

If you are just making purchases and not tranferring a balance or taking out cash there is no fee. You must make at least the minimum payment each month though.

minno_2

cashandeo wrote: »

Hi,

The article says pay off the minimum each month to get interest-free credit, but if you look at the T&C's for the cards (e.g. Tesco) then you see that the interest-free period is 51 days but only if you pay off the balance in FULL.

Can some one explain this apparent contradiction?

Thanks,

C.

If you have a 0% card then you will not be charged until the 0% period is up. The T&C's for the 51 days is for when the 0% has ended and they start charging you.

bobby247

hi i've just ordered a tesco 0%14 month credit card (strawberry) online and plan to spend on the card and place my income in a 3.3% isa

as i applyed for the card online how do i set a direct debit for minimum repayments ??

also on the credit cards terms and conditions it stated that my limit was £1400 which would mean i could only gain £54.05 any ideas how i could make more money??

thanks in advance bobby

Twiddy

Hi All

We're thinking of going with the OneAccount next year to start quickly reducing our mortgage, and would like to start stoozing to further reduce the mortgage interest. One question (which I can't find trace of on here), is if we went for 0% on purchases cards, and only paid the minimum each month leaving the balance in the OneAccount until the deal ends, is this a good way of reducing the interest? Can anybody shed any light as to how to work out the interest saved in doing this? Wouldn't paying off the whole balance at the end of the deal period just negate all the work done throughout the time of the deal?

This is all new to me so would appreciate any help you guys can offer...

Twiddy