Stoozing: Make Free Cash from Credit Cards article discussion

daveboy1974

with all the changes to bank account ref interest rates what are the best ones at the moment, if you into stoozing = make free cash from credit cards ??

JimmyTheWig

daveboy1974 said:

with all the changes to bank account ref interest rates what are the best ones at the moment, if you into stoozing = make free cash from credit cards ??

Personally I wouldn't bother at the moment, even if the Balance Transfer was fee-free.

Fingerbobs

JimmyTheWig said:

daveboy1974 said:

with all the changes to bank account ref interest rates what are the best ones at the moment, if you into stoozing = make free cash from credit cards ??

Personally I wouldn't bother at the moment, even if the Balance Transfer was fee-free.

I agree, there's very little point at the moment. There are only a couple of 0% fee-free cards available, and instant-access savings interest rates are so low at the moment that the potential returns are pitiful.

ZeroSum

I've got to pay off a load by end of this year, I'm currently just going to pay off a bit early via Halifax reward & get my free fiver for a £500 payment. 

Cleanwithpure

Hi,

Now I wait till I get this card before applying for a barclaycard. Personally I wouldn't bother at the moment, even if the Balance Transfer was fee-free.

mrkds

I think there are still a few decent options that make it worth while, depending on what kind of credit limits you are given and other circumstances.

The HSBC / M&S / FirstDirect trio are still offering 2.75% regular saver accounts, offering about £40/yr each if maxed out (fingers crossed these don't get pulled soon). If you're lucky enough to live in Wales, there's the Swansea BS saver which gives £60/yr when maxed out. You can also get some modest gains from TSB and Virgin current accounts which pay in-credit interest.

If / when these offerings expire, then I would say stoozing will not be worth the effort, but for now I'm still in the game!

Dronfieldman

The Aqua card gives 0.5% cashback on all expenditure.

veryintrigued

I've just been sent an email from Santander offering me an Everyday Credit Card but with zero % for 18 months and no balance transfer fee.

MrFrugalFever

Unless I’m missing something here, the only two ways to be able to successfully ‘stooze’ from a credit card is via a money transfer or curve card purchase?

MalMonroe

MrFrugalFever said:

Unless I’m missing something here, the only two ways to be able to successfully ‘stooze’ from a credit card is via a money transfer or curve card purchase?

This is an old-ish thread but this is what Martin himself said last October -

https://www.moneysavingexpert.com/credit-cards/stooze-cash-credit-cards/