Stoozing and question

Explorer87

Hi 

I'm trying to stooze at the minute but struggling to get get my head around a few things.

So I've got the Lloyds cashback CC, I did have the tesco one but I don't shop here anymore so points aren't benefitting me right now.
After mortgage and other bills go out I have about £800 left, this is going into savings and I'm spending on my CC.

I've got a £3k limit, once I reach this do you pay it off? or do increase the limit?

It seems as though my savings accounts aren't really worth it.

Any tips, I'm working my way through the sticky atm.

thanks!

[Deleted User]

Stoozing really died a death when interest rates went so low. If you are spending on your card you should be paying off in full every month, the point of stoozing was to have the money put onto say a BT offer or a MT offer and then you pay that off over the term of the balance while having the cash in your account. If you are spending on your card and paying interest on the balance then you will lose more than you would ever gain by saving instead.

Unless you can earn more than either a BT/MT fee (or get a zero fee card) by having the saved money in an account paying decent interest, there is no point doing it as you would lose money

penners324

Sounds like you're using those cards incorrectly. Stoozimg only works on a 0% Internet credit card.

[Deleted User]

penners324 said:

Sounds like you're using those cards incorrectly. Stoozimg only works on a 0% Internet credit card.

Cards without internet access are a definite problem  

Explorer87

penners324 said:

Sounds like you're using those cards incorrectly. Stoozimg only works on a 0% Internet credit card.

Interest? It has got 0% interest

[Deleted User]

Explorer87 said:

penners324 said:

Sounds like you're using those cards incorrectly. Stoozimg only works on a 0% Internet credit card.

Interest? It has got 0% interest

The Lloyds cashback card doesn't have 0% interest, it's a normal spending card, it might give you MT or BT offers but if you spend on it and don't pay the balance you will get charged interest