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New to stoozing - can I make a 0% interest one- off payment to British Gas?

MeeMawTucker
Forumite Posts: 5
Forumite

Hi All. I’m a stoozing newbie, but read up on MSE advice and successfully applied for a Virgin Money card and a HSBC card (I didn’t mean to get both - long story but fine!)
We owe British Gas £2000 because of paying too little on DD for ages; they have just put the DD up a lot to claw it back. I’d rather pay a lump sum and then a lower DD - could I do this on one of the cards? I wasn’t sure if it would count as a “purchase “ for 0% purposes: I’ve paid BG by credit card before in a similar situation, but that was on one that I’ve paid off straight away
Hoping a stoozing expert can help - and I do have other questions but will check through the threads first! Thank you
We owe British Gas £2000 because of paying too little on DD for ages; they have just put the DD up a lot to claw it back. I’d rather pay a lump sum and then a lower DD - could I do this on one of the cards? I wasn’t sure if it would count as a “purchase “ for 0% purposes: I’ve paid BG by credit card before in a similar situation, but that was on one that I’ve paid off straight away
Hoping a stoozing expert can help - and I do have other questions but will check through the threads first! Thank you
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Comments
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MeeMawTucker said:I’d rather pay a lump sum and then a lower DD
In terms of your question, you'd need to check the terms of your agreement with BG to ascertain if they allow payment by credit card, but if they did then I can't see any reason why it wouldn't be regarded as a qualifying purchase on a 0% card.0 -
Thank you - yes I can see what you mean about the opposite of stoozing, but if I can pay off the o/s at 0% then it should free up some cash from a lower DD? I have more credit available on the two cards than I need for day-to-day spending over the 0% period, so was thinking this would be a way of using it up.
It’s complicated but I’d love to get the hang of stoozing!0 -
MeeMawTucker said:Thank you - yes I can see what you mean about the opposite of stoozing, but if I can pay off the o/s at 0% then it should free up some cash from a lower DD? I have more credit available on the two cards than I need for day-to-day spending over the 0% period, so was thinking this would be a way of using it up.
It’s complicated but I’d love to get the hang of stoozing!
Your DD with BG may drop, but probably not as much as your expecting, as it needs to remain higher than before as you were falling behind.
If you wanted to stooze, there would be far more profitable ways of doing it.0 -
Thank you @MorningcoffeeIV I think you’re right and it would be a very slow stooze. It will be grating on me to have the free credit available and not be using it but I’ll have to think about what else I can use the cards for0
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MeeMawTucker said:Thank you @MorningcoffeeIV I think you’re right and it would be a very slow stooze. It will be grating on me to have the free credit available and not be using it but I’ll have to think about what else I can use the cards for0
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Thank you @daivid that’s a good point. I wasn’t thinking so much beyond the end of the current interest-free period, but if I get the hang of all this, I will probably want to continue!I noticed when I checked my credit rating, I thought it would have dropped (from accidentally getting two cards at the same time) but it had gone up 10 points and the reason given was not using all my available credit.0
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Virgin Money might also end up offering you a money transfer for a low fee and 0% interest for a significant period of time. I opened my credit card with them like 3 months ago and just got an offer I took.0
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Thank you @MasterplanC I hadn’t thought of a money transfer; I will keep a look out though. Slowly getting the hang of all this!0
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