New to Stoozing - can you check my plan

Hi

Recently debt free and savings where I'm happy(ish) - was thinking of giving stoozing a go to squeeze a little more and wanted to run the plan by the experts, you guys...

Secure a 0% spending CC (eg M&S 21months)
Setup direct debit for minimum amount
Setup easy access savings (eg Chase 2.7%)
Spend on CC for everyday purchases
Weekly/Monthly transfer spent amount from current account to easy access savings to earn interest
Continue doing this until CC limit is maxed
If 0% period allows transfer amount in savings to fixed savings (eg Atom for 12 months)
Prior to 0% period on CC expiring and on savings maturing pay full balance to credit card
Close credit card once clear

Just double checking this is correct, unknown is what the credit limit on the CC will be.

Cheers
Neil
Neil

Comments

  • MalMonroe
    MalMonroe Posts: 5,783
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    Hi, even better than that, why not have a look at the info in the following link -

    https://www.moneysavingexpert.com/credit-cards/stooze-cash-credit-cards/

    Updated by Martin himself in October last year.  It explains stoozing step by step better than we can, probably. 

    Good luck with it.  :)
    Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.
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