Quickest way of building up a balance?
glider3560
Forumite 4.1K Posts
I have recently got into stoozing (jumping on the bandwagon late).
What's the quickest way of building up a balance? I'm putting all my normal day-to-day expenditure on there. Are there any quick routes to an effective cash advance, without paying a cash advance fee?
What's the quickest way of building up a balance? I'm putting all my normal day-to-day expenditure on there. Are there any quick routes to an effective cash advance, without paying a cash advance fee?
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Yes there are quite a few - I've ripped thousands out of 0% and Amex/miles cards. Problem is, any methods of doing this that become public will be jumped on by money launderers and credit card thieves and shut down by financial institutions.
Best way is to experiment and when you find a route, keep it to yourself!
Balance transferring credit into a bank account at 0% and using those funds to earn interest.
What's described in this thread is slow stoozing - using 0% purchases cards to buy things and save the money you'd use to pay it off in full, until the limit is reached.
I prefer the latter method as it's easy to make purchases that end up in your bank account with virtually no effort - a slow stooze which sees the credit limit reached in minutes. The minimum payments also generate direct debits which help to keep all those bank accounts paying out rewards.