New to Stoozing next step

Pat38493

I am new to Stoozing but I've just been running up a card towards the credit limit on 0% purchase over the last 6 months.  0% Deal on £6.5K lasts until June 2025 with Barclaycard.

Assuming they don't automatically extend my credit limit, what is the best next step if I want to continue this activity with larger amounts?

Is it better to try to get a balance transfer card, transfer the current card balance to the new one, then continue to use the Barclaycard while the deal lasts?  Or rather, simply apply for a second 0% purchase card?  Or maybe it doesn't matter either way?

Further - is the topic to get £200 cash each month through the curve app still valid (mentioned in the sticky on this board)?  IF I understood correct this means you could take out £200 each month in cash and it counts as an 0% purchase and not a cash withdrawal?

housebuyer143

I just take out a new 0% card until such time as I stop being given them. Pay them off at the end and then start again.

Fingerbobs

Pat38493 said:

Further - is the topic to get £200 cash each month through the curve app still valid (mentioned in the sticky on this board)?  IF I understood correct this means you could take out £200 each month in cash and it counts as an 0% purchase and not a cash withdrawal?

I don't think this will work any more. The new fee structure which took effect two days ago doesn't mention the £200 monthly fee-free cash withdrawal for 'free' users. I haven't tested it, but it looks like you need to be on one of their paid tiers to get fee-free cash withdrawals now.

Altior

OP, it depends upon what flexibility you have outside of stoozing. We have no idea what deals will be around in 2025 (and what the fees will be). So if you have to clear the balance by the time the deal ends, with the stoozing cash, then you're looking at fixed rate cash bonds that mature before the deal ends, and/or regular savers.

I like to have a mix, so have some easy access, less than a year, RS, year, 2,3,5 years. Inside and outside of ISA wrapper (longer ones in ISA). 

If you can access them now, low fee BT and MT cards I would use MT as a mule to build up your stoozing pot. Always game the exit plan, ie if I can't get more credit to close out a stoozing card, what is my alternative plan? For example, I have the shorter duration cash investments, and also ITs that I can sell if absolutely needed. The income from those I am putting into MM funds as will, whilst the base rate is high. 

grumbler

Pat38493 said:

Is it better to try to get a balance transfer card, transfer the current card balance to the new one, then continue to use the Barclaycard while the deal lasts?  Or rather, simply apply for a second 0% purchase card?  Or maybe it doesn't matter either way?

It does matter. With very few exceptions BTs cost you - unlike spending on a 0% card.

Fingerbobs

Fingerbobs said:

Pat38493 said:

Further - is the topic to get £200 cash each month through the curve app still valid (mentioned in the sticky on this board)?  IF I understood correct this means you could take out £200 each month in cash and it counts as an 0% purchase and not a cash withdrawal?

I don't think this will work any more. The new fee structure which took effect two days ago doesn't mention the £200 monthly fee-free cash withdrawal for 'free' users. I haven't tested it, but it looks like you need to be on one of their paid tiers to get fee-free cash withdrawals now.

Confirmed. The Curve £200 per month free withdrawal has definitely gone for free users. The sticky post needs to be updated. 

I have not used my Curve card at all for well over 30 days, and just made a tactical £100 ATM withdrawal, and was charged a £2 fee.