New stoozer - Advice please?!...

BS999

I have recently started stoozing with the Virgin card, but the one thing i can't get my head around is on this site where Martin talks about Super-Balance transfers, and the fact that only two cards currently allow you to do this (Virgin & MBNA) - http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards#MBNA

There seem to be lots of people on here with several different cards which they use to stooze, so why does Martin say that only 2 allow it?

I don't have any debts, apart from the stoozed Virgin money, and obviously my mortgage - and i just want to borrow the cards money to be able to put in my current account so that i can then transfer it to my offset mortgage (6.09%)

I am obviously missing something but can't see what!

Please advise!

Thanks a lot
BS999

YorkshireBoy

I don't think the article says "only two cards..." It says, simply, "two cards..." probably because they're the easiest for the 'beginner' because they openly advertise 0% on transfers into your current account (certainly the MBNA card does).

The article is not intended to be the 'be all and end all of stoozing', and as such omits several other routes to the stooz pot. You may find more, specialised, information on the official stoozing website at www.stoozing.com

BS999

Oh i see - so basically any card that offers 0% BT will allow me to transfer it to my current account (for a % obviously)?

eaustin

BS999 - You will need an Egg Money card to act as a 'mule' to transfer funds to your current account.

If you read the article below particularly the section entitled 'Card trick' this explains what you need to do.

http://www.moneysavingexpert.com/cards/stooze-cash-credit-cards

Good luck

BS999

The penny has dropped!... i understand it now!...i am currently in the process of changing my current account, so once that is complete and my direct debits are set-up i will apply for the egg money card.

Thanks to both of you for your help :beer:

eaustin

No worries. Just click on the thanks button and I'll get into double figures!

Hope it all works out for you.

Shelly-belly_3

Hi

I think I am missing something here. I have just arranged my first stooze. The cash is sitting in my current account ready to be moved to my ISA. Why would I need to use a "mule" card? Have I done it wrong? Doh!

Thanks muchly!

Shelly-belly

YorkshireBoy

Shelly-belly wrote: »

Why would I need to use a "mule" card? Have I done it wrong? Doh!

You only need a 'mule' card if the 0% card you're stoozing doesn't offer SBT capability in it's own right.

Sounds like you have an MBNA run card?...or maybe the Egg Card (Visa)?

Shelly-belly_3

Thanks Yorkshire Boy

Your deductions are correct, just received my MBNA card. Feel a bit naughty stoozing, but I dare say I'll get used to it ;-)

Mutton_Geoff

Feel a bit naughty stoozing, but I dare say I'll get used to it

You will! I did and it's like a refund for all the criminal interest rates I paid when I was a young inexperienced credit card holder back in the early 80's :rotfl: