Stoozing Calculator

Former_MSE_Dan

Hi folks,

As part of the update of the Stoozing: Make Free Cash from Credit Cards article, we've added a calculator to make working out your wonderful profits easier

Stoozing Calculator

Hopefully this will be useful for some of you

Dan

Milarky

Much better go here:

http://www.whatsthecost.com/stoozing.aspx?country=uk

Clariman

There is also a new one here http://www.stoozing.com/calc.htm

Clariman

Clariman

Also pleased to announce a new Slow Stoozing Calculator (Slow Stoozing being another term for what Martin Lewis calls the "Simply Spend" method i.e. stoozing using 0% on purchases cards)

http://www.stoozing.com/slowcalc

shafiq

Hi Dan,
I have a detailed stoozing calculator in Excel.
I can't post attachments so could not attach it to a post on this forum.
How can I get it to you?
I did send it it martin at moneysavingexpert dot com and got an automated reply that it will unlikely be read.
Cheers,
Shafiq

shafiq

There is an error on this calculator as the net interest does not decrease every month and it should as the amount left in the bank is decreasing after making a minimum payment.
Say you borrowed 10000 and the gross interest rate you get is 12% then the first month (12%/12months=1%/mth), you would get 100 and not 101.92 as per the calculator. 12% gross interest is 12.6825% AER as it is compounded every month.
Cheers,
Shafiq

shafiq

This one also seems to have an error so not sure if the interest payable is being rounded down and interest received is rounded up as the amount stoozed is a bit higher.
In any case, it is the most accurate one I could see.
Shafiq

Clariman

shafiq wrote: »

There is an error on this calculator as the net interest does not decrease every month and it should as the amount left in the bank is decreasing after making a minimum payment.
Say you borrowed 10000 and the gross interest rate you get is 12% then the first month (12%/12months=1%/mth), you would get 100 and not 101.92 as per the calculator. 12% gross interest is 12.6825% AER as it is compounded every month.
Cheers,
Shafiq

Hi Shafiq, I am the author of the stoozing site's calculator. Regarding your first point, the MSE calculator does not take minimum payments or balance transfer fees into account, so I think it is intended as a rough guide to how much you could earn.
I am not quite sure what you are saying with your example. If the interest rate on a card is 12% p.a. this would normally be quoted as an APR which takes into account compounding, so the month interest rate would not be 12%/12 months = 1% per month. Given a 12% APR, the monthly compound interest rate would be 0.9489%.

This one also seems to have an error so not sure if the interest payable is being rounded down and interest received is rounded up as the amount stoozed is a bit higher.
In any case, it is the most accurate one I could see.

There are 3 listed in the thread. Which one did you mean?

Clariman

rillord9

MSE_Dan wrote: »

Hi folks,

As part of the update of the Stoozing: Make Free Cash from Credit Cards article, we've added a calculator to make working out your wonderful profits easier

Stoozing Calculator

Hopefully this will be useful for some of you

Dan

Surely this calculator is far too simple, not only does it not take the initial transfer charge into account it doesn't allow for the minumum monthly repayments. On the £7k I've been offered from Virgin ( 3% transfer fee and minimum 3% a month repayment) invested at 6% this calculator suggests £336 profit where in fact its more like £82. The repayments of around £200 a month have to come from somewhere and if taken from the original invested £7k will become near £5k after 12 months. I'd be happy to be proved wrong but www.whatsthecost.com/stoozing.aspx is a much more accurate calculation.
Bearing in mind all the pitfalls (missing payments, time to transfer between banks etc ) is it worth it?

Clariman

This one is even more accurate.

moonrakermagpie

HI, with the current financial crisis which is the best savings account for a stoozing pot??

Cheers