Considering short term (9 mth) stooze...

WSO · 29 August 2005 at 12:45AM

I'm toying with the idea of getting out a new IF card for stoozing (had my offset one "expire" in July due to lack of chip and pin being available - yeah right) and putting the money in my ISA (will be lucky if I get more that £3000 limit).

First of all, will I be treated as a new customer? (I didn't take up the Halifax offer given at the time)

Secondly, I have an Egg blue card with £2400 limit and pay off the balance each month. If I use this as a mule while I still have a balance on it, will I be charged interest on it even if I pay the balance off by the payment date as usual? If so, when would be the best time to do the transfers (statement date is 26th and payment date is 9th)?

Thanks in advance.

YorkshireBoy · 29 August 2005 at 1:17AM

websiteowner wrote:

First of all, will I be treated as a new customer? (I didn't take up the Halifax offer given at the time)

Did you "cancel" and "close" the old IF card? If (pardon the pun!) not, this may cause you a problem.

websiteowner wrote:

Secondly, I have an Egg blue card with £2400 limit and pay off the balance each month. If I use this as a mule while I still have a balance on it, will I be charged interest on it even if I pay the balance off by the payment date as usual? If so, when would be the best time to do the transfers (statement date is 26th and payment date is 9th)?

I'm not familiar with the Egg Blue but I'm sure I've read that it's the stoozers "best friend" during months 2-5 of the Egg Green's 5 month anniversary period due to it's muling capabilities.

I wouldn't have thought it mattered when you did the BT as long as the card didn't go into a "negative balance". However, I'd ensure I did the BT just after the normal monthly payment had been made/taken and not spend on the card between the statement date and the payment date.

You'll get an Egg Blue expert along later today, but hopefully I've given you something to think about in the meantime.

Finally, you could try posting your question over on the stoozing website and one of the experts there might be able to give you a more definitive answer.

WSO · 29 August 2005 at 3:49AM

I didn't cancel it per se, they gave me notice they were closing the card because they couldn't support the new chip and pin on the next issue which new cards are required to. If I had a balance I could transfer it to the Halifax card I was offered or just continue paying balance off (just wouldn't be able to put new amount on it).

As it was, I didn't have a balance at the time it expired so I assume the account was closed. I have not been able to service the account since the expiry date as it has dissappeared from my plan so while I did not cancel and close the account myself - I assume it was cancelled through my inaction (they said if I didn't want to take up the offer to do nothing).

The anniversary month on my Egg blue is I believe July, so it would be a better time to do this it would seem. But really I was just curious as to what would happen if I used it as a mule while also using it for "cashback" purchases... obivously if there is going to be a charge for interest on the transfer, I'd like to keep it minimal - I'm under the impression I shouldn't be charged any BT fees as I have been with them since 2001. Someone please correct me if my thinking is flawed.

Considering short term (9 mth) stooze...

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