Natwest Credit Cards

Ben8282

Sad_Dad wrote: »

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I am stoozing and have been for the last 5 years. I've been able to make around £1500 a year between myself and my wife, this keeps us under the PSA threshold.

This tax year, with all the savings rate reductions I am looking at about £1000 interest from our saving accounts.
r.

Just HOW MUCH are you stoozing to be earning these amounts of interest on savings accounts? The maximum balance on which the 1.5% is paid is £10,000. One account each doubles that. 1.5% of £20,000 is £300. So where is the rest of this stoozed money and what rate of interest is being earned on it.

Sad_Dad wrote: »

Currently got 12k to transfer on an interest free credit card which is coming to the end of the interest free period.
I have 10k in a Natwest savings account so that should help. I.

There was me thinking you had a £12,000 stoozing balance with the 0% period about to expire and only £10,000 in savings ………
If you really are stoozing enough in savings accounts to be getting the amounts of interest mentioned the chance of Natwest giving you a credit card with at all, let alone two cards including a 0% no fee balance transfer card with a credit limit in excess of £12,000 with the sort of balances that you must have is very very low indeed.

Sad_Dad

I have had a combined stooz pot of between 40k and 60k whilst earning around 4% with various current accounts and regular savers 3% to 5%.

Current Accounts, TSB (was 5% now 3%), Tesco (3% now 1%), Nationwide (5%).
Regular Savers all at 5%, Nationwide, First Direct, Santander, M&S.

A few of my 5% regular savers have already matured or will mature this tax year before the 5% rate was reduced.

After paying off most of my credit cards I am now left with a balance of 12k, interest free until the beginning of December.

The eligibility checker shows a few cards with between 70% to 100% chance of approval, including the NatWest (70%) balance transfer card.

I could pay off the 12k with savings rather than transfer it to a new card. Doing this will presumably increase my chances of being accepted for more cards. I then wouldn't have much left to transfer but with some manufactured spending I can build up balances on my every day cards and transfer to my new cards.

surreysaver

Sad_Dad wrote: »

I have had a combined stooz pot of between 40k and 60k whilst earning around 4% with various current accounts and regular savers 3% to 5%.

Current Accounts, TSB (was 5% now 3%), Tesco (3% now 1%), Nationwide (5%).
Regular Savers all at 5%, Nationwide, First Direct, Santander, M&S.

A few of my 5% regular savers have already matured or will mature this tax year before the 5% rate was reduced.

After paying off most of my credit cards I am now left with a balance of 12k, interest free until the beginning of December.

The eligibility checker shows a few cards with between 70% to 100% chance of approval, including the NatWest (70%) balance transfer card.

I could pay off the 12k with savings rather than transfer it to a new card. Doing this will presumably increase my chances of being accepted for more cards. I then wouldn't have much left to transfer but with some manufactured spending I can build up balances on my every day cards and transfer to my new cards.

I am in a very similar position to you. I have £2.5k on a 0% credit card due to expire beginning of December. I was just going to pay it off, but got an email from NatWest advising me of this credit card 0% with no fee. I thought what the hell, I'll just apply for it. They'll probably give me 5 or 6 grand, I'll use the rest to partially pay off another 0% card that expires the end of December.
They offered me £12.5k, so I'll pay off the intended card, the one I'd hoped to partially pay off, plus the rest will go towards another 0% that expires next May!
Bonus!

Ben8282

surreysaver wrote: »

I am in a very similar position to you. I have £2.5k on a 0% credit card due to expire beginning of December. I was just going to pay it off, but got an email from NatWest advising me of this credit card 0% with no fee. I thought what the hell, I'll just apply for it. They'll probably give me 5 or 6 grand, I'll use the rest to partially pay off another 0% card that expires the end of December.
They offered me £12.5k, so I'll pay off the intended card, the one I'd hoped to partially pay off, plus the rest will go towards another 0% that expires next May!
Bonus!

Well yes. But you had a balance of £2.5k while OP has a balance of £12k. Not quite the same thing.

surreysaver

Ben8282 wrote: »

Well yes. But you had a balance of £2.5k while OP has a balance of £12k. Not quite the same thing.

No, but I've got £65k in Regular Savers, with the balance on 0% credit cards and offset mortgage. So similar amount. Just the value of my expiring 0% credit card I was looking at paying off is smaller. I am earning circa £200 pm using this method. But my £12.5k limit offered obviously indicates I have similar 0% debts as the OP

Ben8282

I simply don't believe people who claim to be stoozing amounts in the region of £65k on 0% credit cards and are able to obtain new 0% credit cards, especially no fee 0% credit cards, with high limits to keep transferring the balances and continue stoozing without repaying. Sorry.

surreysaver

Ben8282 wrote: »

I simply don't believe people who claim to be stoozing amounts in the region of £65k on 0% credit cards and are able to obtain new 0% credit cards, especially no fee 0% credit cards, with high limits to keep transferring the balances and continue stoozing without repaying. Sorry.

No, I can't believe it either. But there we go. I only applied on the off chance, I was fully intending to repay the debt!

Nebulous2

Ben8282 wrote: »

I simply don't believe people who claim to be stoozing amounts in the region of £65k on 0% credit cards and are able to obtain new 0% credit cards, especially no fee 0% credit cards, with high limits to keep transferring the balances and continue stoozing without repaying. Sorry.

Have you tried it?

I've never been at that level, but I had over £30k, including £12k with Virgin. I then applied for another card with Virgin and they gave me £7k on a 0% purchases card.

On the back of your post I decided to apply for the NatWest card this thread is about and they've given me £11.5k. Now I have to work out how to best use it.

Sad_Dad

Ben8282 wrote: »

I simply don't believe people who claim to be stoozing amounts in the region of £65k on 0% credit cards and are able to obtain new 0% credit cards, especially no fee 0% credit cards, with high limits to keep transferring the balances and continue stoozing without repaying. Sorry.

I don't tend to apply for more credit cards when I already have large balances on my existing interest free cards.

I pay down the balances before the interest free period is coming to an end.

The 65k was total combined credit between myself and wife.

It's surprising what you can get. I have been rejected for some cards or received a low credit limit and the same day received 10k limits with other providers.

My next round of stoozing isn't going to be as easy due to the lack of good credit card deals and lower interest on savings accounts.

Ben8282

Sad_Dad wrote: »

.

the 65k was total combined credit between myself and wife.

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A bit confused here. You are not the person stoozinbg the £65k - that is surreysaver..
You are the person whose stooze got the £1500 in one year interest in savings acccounts between yourself and your wife..