NEw to stoozing so what next?

fcandmp

I am just coming to the end of the interest free period on two credit cards (in a month or so time) and wondered what the best strategy is to continue to benefit from zero rates?

Do, I pay them off, cancel the cards and apply for the next best 0% offer or transfer the balances to the longest free interest period?

If I don't cancel the existing cards what is the impact on the level of credit offer I might expect to get from a new card provider.

Current cards are post office and marks and spencer if that detail makes a difference.

Many thanks

TheShape

If you pay off the card balances you will lose your stooz pot. If you transfer the balances to another card(s) you will maintain the stooz pot and avoid having to use cash (which is presumably earning interest somewhere) to repay them.

Try to keep balance transfer fees to a minimum (ideally use a no-fee balance transfer offer).

What impact closing/not closing the cards will have on the credit you are offered will depend on the credit limits on those cards, any other cards (and other debts) you have and your income.

You could also apply for a 0% purchase card along-side the BT card(s) to grow the stooz pot further.