Anyone 4 cards

mr._prude

Hi

I have read about stoozing on MSE a few years back, read it again a few months back and read it again a few days back. Thought about it a lot, did some calculations etc and was convinced it worked but never did anything about it.

So I have decided to take the plunge. Any advise from all the experts would be great and I hope this would help other newbie stoozers too.

The plan

Applied for the egg money card, (just approved)
Applied for the capital one credit, (just approved)
(Card 0% BT fee, 0% on BTs to 1Aug08)

Hoping for the full 16K (dream on)

Going to offset it against my mortgage 120K at 7.25%
(my mortgage rate in crap because I am not tied in, as I may be selling apr/may, market dependent)

P:rotfl:

danthemoneysavingman

where (or how) did you get the 0% BT fee capOne offer?

YorkshireBoy

danthemoneysavingman wrote: »

where (or how) did you get the 0% BT fee capOne offer?

It's been available (on the Capital One website ) since before Xmas.

http://www.capitalone.co.uk/creditcards/capital-one-balance-transfer-card.jsf

mr._prude

Based on my calculations for 16k, using their money to pay off the monthly minimun 3%. It would knock and extra £550 of my mortgage it 6 months. That's not bad.

P

YorkshireBoy

There's a useful stoozing 'profit calculator' at http://www.stoozing.com/calc.htm

I assume you've set your statement date to the 28th of the month to maximise the interest free period?

mr._prude

Not sure. What is the default? It is too late to change it?

P

toadstooltomato

mr._prude wrote: »

Hi

Going to offset it against my mortgage 120K at 7.25%

P:rotfl:

was wondering- as have a 43k mortgage fixed at 4.7% for 8 more years. Can I offset mine

emma396

u need to make sure capital one actually give u the card u applied for. i applied for the 0% bt fee and 0% bt till aug '08 b4 xmas, was told that the card was approved, rang up to check it all and was told i didn't get the card i wanted, but instead the card with a longer 0% period, but with a balance transfer fee, this made it not worth my while so cancelled it

mr._prude

toadstooltomato wrote: »

was wondering- as have a 43k mortgage fixed at 4.7% for 8 more years. Can I offset mine

It would have to be an offset mortgage,

This is a special type of flexible mortgage were if you have savings & current accounts with the mortgage company they are offset against the debt. This means you are only charged interested on the difference

(e.g. Mortgage 100k, Savings 15k, Current 2k, so offset = 83k)

P

toadstooltomato

mr._prude wrote: »

It would have to be an offset mortgage,


(e.g. Mortgage 100k, Savings 15k, Current 2k, so offset = 83k)

P

Easy, shame aout needing savings tho:rolleyes:

mr._prude

How long does it usually take before you receive the egg money card and the capital one card?

P