Average stooze pot size?

smartsaver

Martinslovechild wrote:

Al Mac,

Most stoozers have pots considerably bigger than £6K. My guess is that £50K is a more likely average.

If you don't offset, then £50K in a savings account would result in £52,636.65 after 12 months (at 5.15%) for a basic rate taxpayer - therefore £1318.33 after 6 months. Obviously, there are any BT fees to come off this amount, but it's probably the best paid job I ever had at £1000 per hour!!

Totally agree

thaylock

Exactly, personally I am saving £250pm in interest (£3000pa), not bad for a few hours work.

YorkshireBoy

Al_Mac wrote:

Is it really still worth it, if you don't have an offset mortgage?

I think so, but then again I've had some luck with negotiating high limits and I've not paid a BT fee yet.

Al_Mac wrote:

Assumed £6k over six months, with a £50 balance transfer fee, in an ING account for five months, net interest of £76.

You've picked the worst combination here - low limit, short duration, and a BT fee. I make the result of your example around £43, and I probably wouldn't have even applied for this card in the first place.

Having said that, Mrs YB's lowest limit card of £4K has been stoozed, but this was for 9 months, had no BT fee, and being MBNA had minimum payments of £5 per month. This will yield a profit of around £103.

PokerPortal

Martinslovechild wrote:

but it's probably the best paid job I ever had at £1000 per hour!!

Probably? You mean you are not sure? What jobs did you have?

bluesnice

I'm small fry! I've only got a 12K pot. I know its not a lot but I'm a newbie. However, I'm nervous about going on with it so not sure what my next move will be.

CTT_2

bluesnice wrote:

I'm small fry! I've only got a 12K pot. I know its not a lot but I'm a newbie. However, I'm nervous about going on with it so not sure what my next move will be.

If you havn't the balls for it then DONT do it.

WallyMan

Don't be nervous. Wait for a month and then apply for another card

I do recommend you start as you mean to continue though:
- Setup a tracking spreadsheet
- Make a note in your diary when the offer ends - or use the MSE Tarts Alert facility
- Setup direct debits to pay the monthly minimums
- Get a file and keep everything in one place

then sit back......

bluesnice

CTT wrote:

If you havn't the balls for it then DONT do it.

I don't.. I'm female.

MisterMonty

bluesnice wrote:

I don't.. I'm female.

LMAO

:rotfl:

johnfthetraveller

I'm interested in pot size, as I don't want to apply for credit and then get knocked back. However, comparison is meaningless unless you take into account income and credit worthiness.

I've got good credit rating (ie always pay on time) and a maximum pot of just less than my income. Should I be going for more? Is there a list anywhere of issuers who are more generous when taking into account the income/used credit ratio?