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Stoozing - even sweeter?
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Smitty
Posts: 341 Forumite
in Credit cards
Most people on here know the score, stick a load of cash from 0% CCs into a savings account and keep the interest as profit. Very nice thank you 
But I was thinking the other day that stoozing is a little bit nicer than I first imagined.
If I was to invest my own £10000 in a savings account at 5% in year 0, after a year, I would have £10500. But because of inflation, say at 3%, my money would only be worth £10194 in year 0's terms. Which only represents a £194 profit
Where as a stoozed £10000 earns £500 interest, worth £485 in year 0's terms. Representing a £485 profit as the CC company have taken the hit on the £10k deprecation
Sorry if this was obvious to everyone, I just felt like sharing it
But I was thinking the other day that stoozing is a little bit nicer than I first imagined.If I was to invest my own £10000 in a savings account at 5% in year 0, after a year, I would have £10500. But because of inflation, say at 3%, my money would only be worth £10194 in year 0's terms. Which only represents a £194 profit
Where as a stoozed £10000 earns £500 interest, worth £485 in year 0's terms. Representing a £485 profit as the CC company have taken the hit on the £10k deprecation
Sorry if this was obvious to everyone, I just felt like sharing it
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Comments
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Great to have someone pointing out some good news ;D Stoozing is fun0
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Now all we need is a way to get them to pay us a free starting £50 for balance transfers ;D
Stoozing is great ! a fifth of my annual earned interest comes from stoozed cash !0 -
You seem to be mixing up "money" and "purchasing power" IMHO...............................I have put my clock back....... Kcolc ym0
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