Continue stoozing?

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  • seatbeltnoob
    seatbeltnoob Posts: 1,311 Forumite
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    edited 13 July 2018 at 11:42AM
    binaryuniverse wrote: »
    Indeed. The point of stoozing is to absolutely max out the 0% offers, and you can put your money to one side. If you're not using the full amount available, and you are in a position to, you are losing out on interest gains.

    Therefore, if you are balance/money transferring, use as much as you can. If it's a purchases card, and you hit 66% utilisation, just keep using it.

    I am doing slow stooze so I can only spend about £600 a month on cards so it's not in my capacity right now to max out these cards.

    I am more concerned about the ability to get new cards when I need them. I have credit cards with limits of 3.5K, 7.5K, 4.5K, 3K in the order at which I got them.

    The 3.5K card has no promotion and has a £0 balance. But I have to keep it open as I have a potential chargeback claim with them. As I was typing this I realised I don't need the fill limit on this and reduced the limit down to £1000

    The £7.5K card is an old debt at 0% balance transfer which I am paying off £200 a month. As I was typing this. I just realised I don't need the fill limit on this. I have a balance of £1500. So I reduced the credit limit down to £2K

    The 4.5K card is my first balance transfer card and I'm on 60% utilisation on that.

    The £3K card is my new stooze card, just applied and got approved.

    Sorry to be so long winded. I just thought I put that out there to explain my situation. I have 2 credit card accounts open which I don't need to use.
  • MisterMotivated
    MisterMotivated Posts: 518 Forumite
    First Anniversary First Post
    I'm also getting to a point where I could do with winding down my stoozing (might be looking for another mortgage soon, so don't want any CC debt when that time arrives). Two of my stoozing cards have recently ended their 0% period so I'm down to just one, running until 2020. I've kept the two cards open and spend a small amount on them each month just to keep a balance for direct debits for one of my Halifax Reward accounts (though with the recent drop to £2 a month reward, it hardly seems worthwhile).
  • No_6
    No_6 Posts: 835 Forumite
    First Anniversary Combo Breaker
    OH and ME have 9 different 0% purchase cards on the go at the moment,
    ranging from 15 months to 29 months, with limits up to £5k / £8k
    mostly maxed out with last years and next years HOLIDAY's

    Money is there to pay when required but I do not like spending
    MY money !!

    and people say stooze is dead
    6 :)
  • ChopperST
    ChopperST Posts: 1,257 Forumite
    First Anniversary Name Dropper First Post
    Two cards on the MSE weekly email (M&S and MBNA) actually pay you to stooze this week so its not dead!
  • No_6
    No_6 Posts: 835 Forumite
    First Anniversary Combo Breaker
    2 cards and you call it stooze ,, are they £10K + each ?
    are you using ALL your daily purchases, to add to 0% purchase cards ?
  • Supernova
    Supernova Posts: 725 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    edited 15 September 2018 at 10:38AM
    Before applying for another card, is there any long-lasting hit on the Credit Check if you keep stoozing? I guess I have about £13K outstanding now and still an 80-95% chance of getting new ones.

    My income has been a lot lower for the last 5 years but plenty of savings to pay them off, however my loans and CC affordability in MSE Credit Check now shows as V.Weak.

    Thanks
    S
  • No_6
    No_6 Posts: 835 Forumite
    First Anniversary Combo Breaker
    If you haven't applied for another card for a few months,
    then try 2 at the same time.
    ?
  • Fingerbobs
    Fingerbobs Posts: 1,639 Forumite
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    I'm also seriously considering winding down my stoozing activities. I've got a 0% ending next month and another ending early next year, and planning to just pay them off when the time comes and stop. It's just not worth bothering any more, and there's still the possibility I may want to take out a mortgage in the fairly near future, so I really don't want any unnecessary credit searches on my file at the moment.
    Once the mortgage is underway I might reconsider, but for now, I'm out.
  • No_6
    No_6 Posts: 835 Forumite
    First Anniversary Combo Breaker
    You have 2 accounts, closing soon and you are
    getting out of s....g ?
    which was never intended for just 2 accounts

    bye bye
    the more you leave, the better offers I will get.
  • Fingerbobs
    Fingerbobs Posts: 1,639 Forumite
    First Anniversary First Post Name Dropper
    No_6 wrote: »
    You have 2 accounts, closing soon and you are
    getting out of s....g ?
    which was never intended for just 2 accounts

    bye bye
    the more you leave, the better offers I will get.

    Not sure if this is a dig at me or not, but FYI, I started stoozing around 2006/7 (admittedly even then late to the party), and it's been pretty lucrative for me over the years, thanks.

    I'm sure I'll be back into it at some point. I'm just frying some different fish at the moment.
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