Would a CC mind a money transfer reason given as "Stoozing"?

Jami74

How very bizarre. Why would the customer service person be disappointed in how you want to use the money that they've offered to lend you? It would be like buying a car and the seller wanting to know how you'd use it and then being disapproving.

All the credit cards I've had have only allowed a percentage of the balance to be transferred.

Make sure you set up the direct debit straight away and diarise when the promotion ends.

vacheron

Jami74 said:

How very bizarre. Why would the customer service person be disappointed in how you want to use the money that they've offered to lend you? It would be like buying a car and the seller wanting to know how you'd use it and then being disapproving.

Probably because their hope in promoting these offers that the borrower won’t have the money available when the promo ends and the APR jacks up to 34.9%

Stoozing shows a level of financial responsibility as the money is never spent. So less chance of the lender profiting from it. 

jimjames

Uplink said:

But for some reason they couldn't verify that the destination account belongs to me, so now I have to post my latest bank statement. A printout of online statement is fine, but I have to mail it in.

I had to do the same despite it being the same account I use for the DD that pays my card every month (although now changed to only pay minimum balance). I didn't get asked for the reason for wanting the money.

Uplink

Good news, everyone! I got the cash.

Uplink

Jami74 said:

How very bizarre. Why would the customer service person be disappointed in how you want to use the money that they've offered to lend you?

I don't think that's a statement of how the lender feels. She didn't express the opinion with words, so I'm assuming it's more of a personal thing. I can only guess what she was feeling. Maybe she was judgemental, or maybe she just thought "Why didn't I think of this?". Or maybe she just got tired. I mentioned it because I thought it may be an interesting anecdote regarding a human reaction.

Jami74 said:

Make sure you set up the direct debit straight away and diarise when the promotion ends.

Yep. I already have DD set up. I just went in and changed it from "Full statement balance" to "Minimum payment". (The card was unused, and won't be used for purchases or anything else.)