Telegraph looking for tarts!

Reaper

Ashmit is right, guys. Emma said she is looking for people who rate tart their debts, not stoozers.

As for finding people - that shouldn't be hard Emma, ask a dozen of your friends and I'd guess 1 or 2 will be doing it.

If you want people who came unstuck I suggest you post in the Debts and Loans board. Occasionally poeple post there who have found they can not get any more cards to continue moving their debt. On the whole though this site is not such a good place to find them as people here are either financially savvy or making the effort to become so.

Lopo

Errr......forgive my ignorance...but transferring debts includes the transferring of stoozed debts! Its one and the same whether you mention you are stoozing or not!?

Todays Money Mail (p51) has an article on 0% products too based on the PwC findings(!?!!!) and writes about the end of such offers are likely. Wonder if the Telegraphs article will be similar!?

The_Bhoy_3

Errr......forgive my ignorance...but transferring debts includes the transferring of stoozed debts!  Its one and the same whether you mention you are stoozing or not!?

Sorry, but I wouldn't really say they were the same!

Stoozed money could be paid back at anytime, with the only loss being the forgone interest, whereas actual debt cannot be paid back immediately. In this case, the benefit of 0% offers is not for profit, but to minimize costs. In essence, the key difference is that stoozers would not be disadvantaged if they stopped stoozing, while those with real debt would be.

I'm sure you already know all this, but I do think it is an important distinction to make!

ashmit

Errr......forgive my ignorance...but transferring debts includes the transferring of stoozed debts!  Its one and the same whether you mention you are stoozing or not!?

I would agree with the_bhoy - all stoozing is transferring at 0%, but not all transferring at 0% is stoozing. I am doing both atm - I have my Egg and Natwest cards' money in a Cahoot savings account but also have 'real debt' on a Mint card that I am trying to pay off. And I think this article is limited to the transferring, not the stoozing.

Of course, it would help if the OP came back and clarified... Emma, are you out there?!?

Lopo

...about people who move their debts from one 0% credit card to the next

Aaarrghhh...!

Debt is debt...! Your credit file will show it (meaning: our Stoozing!!) as a debt whether you have it stashed in savings/mortgage/whatever or not...! It just is a debt. Who cares if you can repay it or not...its still literally a visible created debt.

The original topic was asking about moving such debts from card to card......and in a later post...

On a related issue has anyone ever ran into trouble with credit ratings as a result of being a rate tart?

Lopo

Oh dear....

It seems the term "stoozing" was all over that article!

Inevitable that someone is going to give it a go and get it wrong now that it has hit the papers....the stoozing shakedown is soon to follow, watch those lenders!!

Is it just me or did those pictures look poor...so glad that was not me with credit cards about to be shoved down my throat,...although it feels like that sometimes! hehe!

Joe_Bloggs

I can't be bothered to purchase the Telegraph or the weekend variants of it. Is there a site where I can browse the article in question when it is no longer considered worth paying money to read it ?
This is not meant to be a criticism of any journalists or their titles as I prefer to pick up papers left behind by others. I seldom get to read the Telegraph on public transport. This could infer that it is a riveting read or that it is rarely read in the gutter that I frequent.
J_B (Pullinger prize nominee)

deemy2004

As per the Oxford English Dictionary

Stoozing - Borrowing money at 0% on credit cards and then depositing it into a savings account and earning interest on it.

Tarting - Oh err..

Rate Tarting - To move your 'DEBT' from credit card to credit card taking advantage of 0% and other low interest rate offers.

Lopo

Must confess the Telegraph other content was not too droll and I was actually reading a fair bit of it. Has been a while since I last read it I guess - so credit where its due it was not too bad.....No!! - that was not 0% credit in the sense that results in all you stoozers becoming wide eyed.....calm down!!

Had little else to do, and like JB, managed to read someone elses paper and never bought the thing!

hehe!

realaledrinker

A bit naughty to refer to MSE for more details on "stoozing" though. Maybe Martin might like to ask them to plug the Fool when they no doubt do a follow up article.