CC Stoozing

fluffymummy

Did anyone watch Ch5 'it pays to watch.' the other night? I waswondering about this credit card "stoozing". Has anyone done it? Had any experiences?
http://www.itpaystowatch.co.uk/

tesuhoha

fluffymummy wrote: »

Did anyone watch Ch5 'it pays to watch.' the other night? I waswondering about this credit card "stoozing". Has anyone done it? Had any experiences?
http://www.itpaystowatch.co.uk/

I really dont see how it can be profitable now because there are no fees free 0% cards available and you are charged a BT Fee every time. You would have to have a very high interest rate to outweigh the BT Fee.

fatbelly

Read Martin's article here:
and visit https://www.stoozing.com
This should probably be on the credit cards board.
Yes, it's not as easy or as profitable as it was but I'm still making a little from it

YorkshireBoy

tesuhoha wrote: »

there are no fees free 0% cards available and you are charged a BT Fee every time.

There are still several no-fee and capped fee BT cards available. See www.stoozing.com/0fees.htm

You would have to have a very high interest rate to outweigh the BT Fee.

The best returns come from stoozing against an offset mortgage, where (effective) gross interest returns can be as high as 10.5% AER (for a poor mortgage rate/higher rate tax payer). Even with 3% BT fees, considerable savings can still be made over 9-15 month introductory periods.