What do I need to look for in a Stoozing card ?
First and foremost, you need to find a card which offers an introductory 0% on Balance Transfers. This allows you to move the money somewhere else so that you can earn interest on it. The longer the 0% introductory period the better, because it gives you more time until you have to start thinking about the next card and making another application and balance transfer. You should always try to have at least one card that provides a route to make payments into a bank account. Egg and MBNA cards can do this, but check the credit card tables for updates. You also need to understand whether there is a fee for Balance Transfers and what the nature of that fee is. Since May 2005, most lenders now charge a fee for balance transfers, but not all do. For a list of ones that still do Balance Transfers without charge, please refer to our No Fee Cards section on the 0% Credit Cards page. A typical Balance Transfer (BT) fee is 2% of the BT, which means a £200 fee for a BT of £10,000. Is this worth i
First and foremost, you need to find a card which offers an introductory 0% period on Balance Transfers. This allows you to move the money somewhere else so that you can earn interest on it. The longer the 0% introductory period the better, because it gives you more time until you have to start thinking about the next card and making another application and balance transfer. You should always try to have at least one card that provides a route to make payments into a bank account. Some cards also offer a introductory 0% on purchases. For the most part, this does not add very much to the Stoozer because as long as he/she can transfer out the whole balance, why would he/she want to make any purchases on the card. Besides, why not use a cashback card for any purchases and make money that way too ! The only time that a 0% on purchases is of use to a Stoozer is if they do not have a credit card that allows a transfer to a bank account. Using a 0% on Purchases credit card can allow you to bu
