Stoozing in 2025...

MrFrugalFever

OK so I know no one has a crystal ball and can't say whether its worth stoozing in 2025 or not with any kind of certainty BUT, who is intending to do so and what is your rationale behind it?

I have just taken on a 5 year fixed mortgage (i'm a stickler for financial certainty where possible and a little risk averse in that area) with no current known requirements to take out any large amount of credit during this period. I am in the process of streamlining my credit card portfolio, which to date has served its purposes extremely well and as such by the end of this year I will be in a strong position to be able to stooze a significant amount of money. I check the MPC meetings and track the BR %'s and will swap savings accounts with rates (IA and EA) where possible although its not religious. 

Just wondering whether it will be a bit of a thankless task or worth pursuing? My current combined CC limits are £32k but, will be realigned to less once i've streamlined a few accounts, hopefully allowing for more headroom on a decent BT / MT offer - if available - towards end of 2024.

Royoftherovers2024

I've currently got £22k outstanding on credit cards, this money is in savings accounts, split between 5.1% ISA, 5.25% 90 day saver and 4.98% easy access accounts. Just taken on a new 16k credit card where I'm intending to max to 95% with a balance transfer 0% for 20 months with a 1.99% fee so the  I'll have 38k outstanding on credit cards. Thinking of getting more cards.

MrFrugalFever

Are you using your salary/income to maintain the minimum payments or the credit itself to do so?

I recently received an email from Barclaycard telling me they are reducing the minimum payments to 1% of balance which, from a stooze perspective, is great (not sure it's a positive step forward for balance carrying debtors though).

Which lender has provided you with a £16k limit and 1.99% fee?

Royoftherovers2024

I'm using my salary to pay the min payments.

I have just been accepted for a credit card with Barclaycard for the £16k limit, it is 1.99% fee with 20 months 0% so I was intending to put near to that amount in 5% or thereabouts savings accounts/ISA and earn the interest for 20 months whilst paying min payment from salary each month.

I'm unsure what will happen to saving rates over the next 12 months so not sure if to go for easy access or 1 year fixes or similar.

MrFrugalFever

What did you decide to do in the end?

I am currently clearing a small amount of 0% debt that I had ran up when moving property last month so unable to stooze just yet but its a consideration. I am also currently earning many Avios points by way of paying off said debt

Jami74

I absolutely will be stoozing again asap. A few years ago I read this stoozing board with envy, not imagining I would ever get good enough limits to stooze but I was up to over £25,000 in January before I paid them all off and closed them for my mortgage application (also five year fixed). As soon as I can, I will be stoozing again. I'll pay the minimum payments from salary instead of 'saving'. Lloyds/MBNA have previously been generous with fee free money transfers and Natwest/RBS regularly offer me fee free balance transfers. I prefer savings accounts that pay interest monthly.

Fingerbobs

46k pot here, but a large chunk of that finishes towards the end of this calendar year. Not currently planning to increase again as I am half considering expanding my property portfolio, so there's a chance I may want to apply for a mortgage at some point, but nothing decided as yet so who knows. 

Tom_Hendo

I'm doing 2025 but stopping in 2026 assuming forecast rate reductions align. If not then I will continue!

MrFrugalFever

It seems like there's still a good amount of lenders with 20+ months at 0%. One thing I have noticed when checking eligibility for these cards (mainly the mainstream banks which give indicative limit figures) is that their indicative credit limits seem to vary quite a bit. 

The only credit card provider in my portfolio currently that has an anywhere near what I would consider a decent limit is American Express but they don't offer such features as 0% MT / BT because of the nature of them, followed closely by Barclaycard that was largely quite generous in years gone by. Others have been in the £4-6k region. 

It's a tricky one for me as I don't wish to have 10+ credit cards to get to £50k plus worth of 0% spend for stoozing because it then becomes incredibly laborious to manage but equally it is free money.....hmmm...

Plasticman

I did a fair bit of stoozing in the days when balance transfers were fee free but then stopped when fees came in and interest rates dropped. I started back up early last year and have about £30K tucked away. I have a card ending in December so might try a balance transfer to Natwest (fee free) and then get another card for 0% spending when my current one is full. If interest rates drop down significantly through 2025 thought then I'll probably stop there.  

NorwichMan

I started about 14 months ago, currently with three cards and £23k. Just secured a new 0% BT card (Santander 12 month fee free). Most of my existing card deals end in May 25, and if savings rates are low then I may not make an effort to try to continue them.