Stoozing Confusing

nilsac

Hi all,

I`ve read most of the threads on this site but seem to of got myself confused. Please correct me but to stooze i need a Egg money card, A 0% interest card on purchasers and a high interest savings account. Right so far?

Transfer a balance from my 0% credit Card to my Egg Card then transfer that balance to my High interset savings account.

Then transfer the miniuim payment from the Savings account to the credit card (Know this will affect overall interest).

But when i looked at the egg money card there is a 3% balance transfer fee. Does this effect the above plan?

Used forums before and just want to say thanks for takin the time to read and reply to this thread.

YorkshireBoy

nilsac wrote: »

Please correct me but to stooze i need a Egg money card, A 0% interest card on purchasers and a high interest savings account. Right so far?

Partly. To 'fast stooz' you may* need Egg Money, a 0% on balance transfers, and your savings account.

Transfer a balance from my 0% credit Card to my Egg Card then transfer that balance to my High interset savings account.

You transfer a (ficticious) balance from Egg Money to the 0% on BT's card, and then move the resultant +ve balance from Egg Money to your current account fee-free.

Then transfer the miniuim payment from the Savings account to the credit card (Know this will affect overall interest).

Or make the payments from income.

But when i looked at the egg money card there is a 3% balance transfer fee.

You've looked at the wrong Egg product. The Egg Card (Visa) has the 3% fee, whereas the Egg Money card (Mastercard) is fee-free.


* There are other ways to fast stooz.

sicker

But surely YB the card you transfer the 'ficticious balance' from will have a 2% - 3% fee.

John

YorkshireBoy

sicker wrote: »

But surely YB the card you transfer the 'ficticious balance' from will have a 2% - 3% fee.

Sorry John, I meant shifting the +ve balance was fee-free.

But, on the subject of 'froms' and 'to's' (and for the OP's benefit)...

The ficticious balance is being transferred from EM to the new 0% card. The new 0% card sends money to EM to pay for this balance (or debt), and may charge a 2-3% fee for doing this.

BTW John, saw a special 6 month fee-free MBNA offer posted on the stoozing site last night:

http://shop.easymoney.com/cardsp/default.asp
(select 'no fee balance transfer', 'quick search', and hit 'proceed')

There's life in the old dog yet!

sicker

YB, this old dog missed it but got a 9 month 3% fee on £5000 last month. Small return but every little helps. Still struggling to reach £200 cash back from Egg Money, £134 with only 4 months to go.

John

YorkshireBoy

sicker wrote: »

YB, this old dog missed it but got a 9 month 3% fee on £5000 last month.

A 4th repeat on Virgin last month for me, John. This time 0.9%, but fee-free and for over 7 months.

Still struggling to raech £200 cash nack from Egg Money, £134 with only 4 months to go.

I'll probably get to around £190. Could be a blessing in disguise though. What if Egg run a report on all account holders getting the maximum £200, with a view to analysing how they got there?

nilsac

How often can you apply for a credit card?:beer:

reformedEffortMaker_2

YorkshireBoy wrote: »

Partly. To 'fast stooz' you may* need Egg Money.You transfer a (ficticious) balance from Egg Money to the 0% on BT's card, and then move the resultant +ve balance from Egg Money to your current account fee-free.................. There are other ways to fast stooz.

YB-am I reading this right or just being thick?.....I thought you moved the balance to Egg Money from the 0% on BT's card?

Also, other than using MBNA-does anyone know any other way to fast stooz?

YorkshireBoy

reformedEffortMaker wrote: »

YB-am I reading this right or just being thick?.....I thought you moved the balance to Egg Money from the 0% on BT's card?

Balance=debt. It is debt that is being (primarily) transferred. The cash goes the other way to repay the debt - or, in loan shark terms, to 'buy the debt'.

Also, other than using MBNA-does anyone know any other way to fast stooz?

Egg Card
Egg Money card & 0% 'donor' cards
M&S (via their travellers cheque loophole)
Mint (via transfer & save cheques)
RBSG cards (via money transfers and immediate BT to a 0% card).
Post Office card, although I've never used that facility