Stoozing: Make Free Cash from Credit Cards article discussion

RockerAlex

As a total noob to this I don't think I'm understanding how the calculator works for someone starting out completely new with no credit cards or savings accounts.

Any tips?

Strummer22

What figures are you putting into the calculator?

RockerAlex

Stu_N_ wrote: »

What figures are you putting into the calculator?

I'm not sure what to put in to be honest - I've just been accepted for a Sainsburys 27month 0% card and Santander 123 current account. The numbers it's giving me seem far too high to be real.

Assumed card limit is 1200 but that will rise I imagine with my credit score being in the high 900s.

pwl

It has been a while since I last stoozed and, at the time, was using an Egg card to move BT funds to my bank account.


Is there a card which will fill that role currently without paying transfer fees?


Thanks.
Peter

noh

pwl wrote: »

It has been a while since I last stoozed and, at the time, was using an Egg card to move BT funds to my bank account.


Is there a card which will fill that role currently without paying transfer fees?


Thanks.
Peter

MBNA Everyday Plus

pwl

noh wrote: »

MBNA Everyday Plus

That's great, thank you. How do you complete a transfer, do you need to phone or can you complete online?

noh

Transfers can be requested online thats the way I usually do it. You will need to call or use secure messaging if you put the card into a large positive balance and want that transferring to your bank account.

kokolino23

noh wrote: »

MBNA Everyday Plus

Do they not have a 7.4% PA interest ?!

kokolino23

I'm not bothered about a small fee for the bank transfer but I struggle to find a 20 months (or more) 0% offer...
Thanks

mike_pl

Hi All..
OK so I would like to give it a go..
I'm usinf ammerican express at the moment and collecting nectar points for each purchase...
is there a way to calculate how much "revenue" would I gain if I was to switch to stoozing instead?

Would the credit that I can use for savings have to build up over the time? so let say I'm spending £600 on AMEX now and would like to switch to Sootzing, if I open the account with one of proposed banks would I be able according to rules to put only 600 towards saving account? or is there a way to max it out somehow?

Also there is £25 anual fee for the card at AMEX so might push me towards the move quicker then I was expecting as it is eating up big chunk of what I can gain during the year.