Stoozing advice

The_Machine

Oaf,

It's also worth setting up a direct debit to make the minimum payment automatically each month. This will help ensure you don't break their T&Cs, which could end your interest-free period early. You can do this with a quick call to customer services.

Virgin are great for stoozers here too because the minimum monthly payment is the LESSER value out of £5 or 2.25% of your balance. So whereas most cards would have you paying at least 2-3% of your balance (£20-£30 per £1000), Virgin allow you to pay just £5 every month - whatever your balance!

Clariman

Fat_Oaf wrote:

Hi, I'm just wondering how you get a no fee balance transfer from Virgin? My understanding was that you use the credit card cheque facility of the Virgin card and that this was subjec to a 2% up to £35 fee. Is this the case or is there a way round this fee by calling Virgin direct?

I have just bee approved for a card an it would be great if there was some way around this fee as it's going to eat into my stoozing profits before they even appear!

Beware credit card cheques. The vast majority of card issuers (including Virgin) treat a credit card cheque as a cash transaction. This means that you get charged a transaction fee (typically 2% without a limit) and usually get charged interest from the date of the transaction. This is an absolute no-no for a stoozer. Stoozers use Balance Transfers rather than credit card cheques.

As others have said - do your research. Feel free to take a look at https://www.stoozing.com which aims to give the most comprehensive guide (and is sponsored/supported by Martin Lewis of MSE).

Clariman