Newbie Stoozer

Bokkens

Steve1981 wrote: »

With Virgin during the intro period is there not a 2.98% handling fee? Do you mean After the intro period getting them to agree SBT with 0% and 0% handling fee?

During the introductory offer period the cards are normally at 0% for BT plus a BT fee.At the end of this offer if they refuse further 0% and apply a new rate of say 9% plus a BT fee you are not going to make any money stoozing unless the card rate is kept at 0%.
This is why we have to move cards to find a new 0% rate.Normally there is a fee although it is always worth being cheeky and asking for no fee.

maxim1

Whats the best way of paying the minimum fee each month ? Is it best to setup a direct debt from my savings account (stoozing pot ) ?

CannyJock

maxim1 wrote: »

Whats the best way of paying the minimum fee each month ? Is it best to setup a direct debt from my savings account (stoozing pot ) ?

Definitely a direct debit.

If you can pay it from your normal current account and leave your stooze pot alone then even better. If you can't then only draw as much from the stooze pot to your current account as you need to each month. I'm assuming you're not thinking a direct debit direct from your stooze pot because the highest paying stooze pots (like Kaupthing Edge at 6.5%) don't allow direct debits to be set up like that. Watch the timing on pulling funds from your stooze pot if you need to - better to lose a few days interest to be on the safe side than miss a minimum payment

Virgin money card (and all MBNA?) after the first payment of 3% (ish), subsequent minimum payments are only £ 25 during the introductory period.

maxim1

I have recevied my egg money card and would like to know,can i use it as a SBT card and pay bills to earn my 1% cash back ?

Mutton_Geoff

> I have recevied my egg money card and would like to know,can i use it as a SBT card and pay bills to earn my 1% cash back ?

Egg Money, afaik, doesn't have a 0% BT offer, so it can't be used as an SBT card. You can use it as a mule and cashback card though, just make sure you pay the balance off in full each month as having even their lowest rate of 7.9% applied to a balance negates your stoozing work.

There are better cashback cards around though, eg Capital One at 4%. Even Barclaycard retentions offered me 2% for 3 months (after which it's getting cancelled and shelved for 6 months ready for a BT application later in the year).

maxim1

Thanks Mutton, will look into those cards but with the current climate i think I will use the egg money card to keep them happy. I don't want them canceling the card.

Can any one advise on my new Tesco card I have a CL 10k bt 0% for 13 months.

I transfered 95 % of balance to egg card but after doing the sums i don't think its worth it I'm a higher rate tax payer and the minimum payments are 3% of balance using the stooz calculator i would earn about 400 pounds.

I would be deducting the monthly pay outs from the stooz pot, is this figure of 400 pounds correct ?

YorkshireBoy

maxim1 wrote: »

I would be deducting the monthly pay outs from the stooz pot, is this figure of 400 pounds correct ?

With a 5.5% AER stooz pot savings account, you'll make £2.31 over an effective 12 month stooz.

Not sure which calculator you used, but try this one...

http://www.stoozing.com/calc.htm

maxim1

Thanks yorkshireboy for the link, with 6.5 AER profit cam out at 78 pounds. NOw I under stand why the minimum fixed rate cards are best. which company's offer these types of cards, any one ?