Money Transfer Into Pension

AndyPoll

I've just been offered a 2.4% fee 0% interest money transfer on my Barclays CC. 
There doesn't seem an easy way to stooze this to make a worthwhile profit. My mortgage rate is lower than the fee and there are no easy access accounts that would beat it. The only way I can think to do so is by investing in an S&S ISA and that obviously comes with risk that I'm not inclined to take at the moment.
However, if I put the money in my pension it will get an automatic uplift of 20%. I couldn't touch it until retirement (I'm 38).
I could definitely pay it back within the 0% period, and it makes financial sense to do so, I'm just struggling with the idea of the pay off being so far away.
Is the uplift worth taking on the debt?
Also, for others who have the offer and are near retirement, this is a no brainer for you isn't it?

jonesMUFCforever

If you could afford to put money into your pension pot - why haven't you done so - you don't need funds from a credit card?

AndyPoll

Fair point - liquidity basically. Better the money stays in the current account until paying the CC and the same amount roll up in the pension - that's likely to do better than 2.4% in most years. It's just that I'm not sure whether it's worth holding the debt for a pension that I can't access for 30 years?

born_again

AndyPoll said: a pension that I can't access for 30 years?

But at present you can take funds from 55 so 17 years at present.

kempiejon

AndyPoll said:

However, if I put the money in my pension it will get an automatic uplift of 20%. I couldn't touch it until retirement (I'm 38).
I could definitely pay it back within the 0% period, and it makes financial sense to do so, I'm just struggling with the idea of the pay off being so far away.
Is the uplift worth taking on the debt?
Also, for others who have the offer and are near retirement, this is a no brainer for you isn't it?

The 20% is a bit of a red herring as you'll potentially pay tax on your pension as you draw it. Think of it as tax deferral. Also it'll cost you 2.4% of whatever cash you take, you say you can pay it off, and presumably service the minimum payment too over the term so why not put that money in the pension, take the 20% as well, you'll be 2.4% better off.

AndyPoll

Thanks all for your inputs. The point about paying the tax if I get it at 55 is a good one. It probably isn't worth the hassle of doing this overall. 
All forms of stoozing are getting harder, there's not much left that is worth doing....

kempiejon

Slow stooze with purchase cards is easy enough but the profits are slim.  I've got 20 months zero BT fee, zero interest from RBS only for existing bank/savings customers. I think NatWest offer the same.