Stoozing -upping the anti and Move Funds Fees

tms88_user

Hi

I have kind of stoozed to an extent for many years, whereby I get 0% cards and spend day to day on them until the 0% period ends or I have maxed out. I then pay them off just before the 0% ends, close them off and apply for a new one.

By doing this I save money and earn interest elsewhere (although typically in shares rather than savings accounts)

Anyway....

With better interest rates around I thought I might up the anti, and started to read some of the posts here.

 

I noticed that folks were talking about an ability to money transfer their Halifax clarity credit cards to basically draw down on their credit (I think its 93 or 05% of the limit) into their Halifax current account  

They would then use a 0% card and transfer the debt from the Halifax Clarity to that 0% card

The above being a method to very quickly max out credit limits and grab it as cash - allowing them to stick the cash in a saver account and earn interest

The above all makes complete sense and I think I will be looking to follow suit. I have a clarity credit card which I got for my Europe trips and didn't know that I could even do this Money Transfer method. 

When I do do this I will be flipping the funds to my wife as she is a lower tax payer and can reap more in interest than I can. (I think I get a 500 max allowance for interest when I do my tax return)

Anyway....

I am looking for further detail and advice from you guru's on the above and more specifically on the points below:

> Halifax Clarity enables this MT to drawdown on your Credit card to Current account, does any others? 

> Are there other ways to quickly draw down on a 0% credit card with minimal charges? 

> What is the best timing for this? I assume I don't apply for a 0% and in the application state that I will do a BT, since I will want to drawdown on the clarity card and do the BT at the same time.

> What costs to look out for (most 0% will want a circa 3% BT fee which is ok as I will earn 5% ish interest) But I am not so clear on the MT cost - i.e. the cost that Halifax may charge for me drawing on funds from my credit card

Nasqueron

Just to be a pedant, it's "ante" not "anti" - ante is a stake made in poker, specifically before receiving cards