0% no fee balance transfer cards for stoozing

andrewj100

Hi,

I'm looking to start stoozing.
I'm good with money, no debts appart from mortgage and a credit card that is paid of every month.
I'm switching to an offset morgage in a month or so and will be offsetting about 50% of the mortgage.
My plan is to use an egg money card to move money about.
At the moment the only card I can find is a capital one card with 0% ballance transfer and 0%.
So I'll put this into the offset mortgage linked savings account and save interest on the mortgage and pay the card off out of that account when the deal finishes.

The problem is, everything else looks to have a 2.9% to 3% transfere fee, if the deal lasts 6 monthis this is equivelent to 6% per year which means it's just not worth it.
Do any of you know any other credit cards which have a 0% 0% deal?

And.... what do you think of the above plan?

dhassen

I don't think you can transfer from a Capital One card to your current account (or anythng other than another CC) so that might be a problem.

Most of the 0% deals are for much longer than 6 months anyway aren't they?

Don't know of any other cards other than the Capital One Balance Transfer card you mention.

YorkshireBoy

dhassen wrote: »

I don't think you can transfer from a Capital One card to your current account (or anythng other than another CC) so that might be a problem.

OP said "My plan is to use an egg money card to move money about".


OP, start at the top of this table and work down...

www.stoozing.com/0fees.php

Off the top of my head, you have Ulster, N&P, Britannia with no-fee...but then you move to capped fees (useful with a large limit), before moving onto 2/2.5/3% fees...all very much still profitable if a long duration and offset against a mortgage.

Do not discount cards such as MBNA's Virgin Amex 'White' with it's 2% (capped at £50) fee, because this card is known to give fee-free follow on deals after the intro period...meaning you can enjoy 11/12 months of stoozing for the initial £50 fee. Very useful indeed if you get a large limit.

dhassen

I should learn to read and not 'skim' tut tut

andrewj100

YorkshireBoy - Thanks, very useful infomation.

mor7s_2

I only just cleared my MBNA Virgin Amex a month ago and already have a repeat offer of 0% til Feb 09 and £50 capped fee, quite surpirsing given all talk of credit crunch and didn't even have to ask :beer: .

They even trasnferred straight to current account so no need to use the egg money route from there can switch to online savings reducing time lag by a few days too.