Permanent Stoozing for Stoozing maniacs

deemy2004

Yep, it would work, be tight, but would work.

The question is at what point would the card company call you up to ask you what game your playing as they are getting anomolous readings on the tri-corder

Galstonian

It might work, the problem is the reduction in interest free periods. If, say, you have a maximum of 56 days that is only if you manage to get the amount onto the card on the optimum day (the day after your statement is produced) and leave it there until the last possible moment. In reality a balance transfer can take some time to process, even if its just the "7 to 10 working days" and when paying the balance you might have to pay a few days earlier to ensure that the payment is applied in time. It soon knocks 56 days down to closer to 40 and that is probably best case. Worst case scenario is that you BT from one card to another and it takes much longer. You end up with the balance on the card going through your statement date and attracting interest while waiting for the BT to arrive and you have absolutely no comeback on this as all companies warn it may happen. The other problem is that I thought outside of promo periods Egg charge for BTs from the day they are made even if you clear the whole balance (unlike Nationwide).

bethyblue612

Hmm, maybe there is more of a risk of missing the payment date than I thought, especially as I've still got the cash reward card with the reduced 46 days - perhaps it was just a fluke that it worked so well last month!

I still think that it will work for stoozing, as long as you keep your DD set up to pay the FULL balance outstanding and have the cash available to pay the balance if the BT's don't go through on time.

And Egg do charge interest from day 1, but if you're putting Egg in credit first, there won't be interest to pay.

Maybe a bit TOO risky though, I'll try it again this month and see what happens. Even if the money doesn't get onto the Egg card quickly enough, the worst case is paying a few day's BT interest to Egg instead of a full month's purchase interest to Nationwide.

You can all laugh and say "I told you so", when it all goes wrong and I end up paying interest to both Egg AND Nationwide.

zcaprd7

Nice idea though - I like the strategy..