Stoozing tactics

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newstoozer
Posts: 15
Joined: Tue Mar 22, 2016 5:49 pm

Stoozing tactics

Postby newstoozer » Mon Apr 04, 2016 7:48 pm

When the time comes for me to start my slow Stoozing can anyone suggest what tactics should I employ?

Getting the longest interest-free period is an obvious one I guess - Is there a minimum term that expert stoozers consider to be worthwhile?

And At what point should I stop using the card for Stoozing purposes? Say a year before the interest free period ends? At which point I should presumably open slow-stooze card number 2?

When the interest free period finishes for card number 1 how do you decide whether to pay the card off or do a balance transfer? Is it simply a question of directly comparing the transfer fee % against the stooze-pot savings rate % ? I'm thinking it can't quite be that simple as the stooze-pot will be shrinking as more and more of the minimum repayments are made, thereby reducing interest-earning power.

Sorry for so many questions by the way. No rush to reply as I probably won't start my slow Stoozing for a few months. I'm waiting for a few cards with annual cash back to pay out, at which point I'll clear the decks and close them... After that the stooze-fest will commence :mrgreen:

joker
Posts: 77
Joined: Thu Jan 07, 2016 6:09 am

Re: Stoozing tactics

Postby joker » Tue Apr 05, 2016 6:11 am

Another question for your list... How frequently to get new cards and how to spread out the credit reference searches?

Personally I have a three month warning before a 0% expires as my trigger, not a year though.

stooz
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Re: Stoozing tactics

Postby stooz » Tue Apr 05, 2016 12:27 pm

within days of the 0% offer expiring, I pay it off, leaving the interest in the savings account or look at the cost of a fee to transfer it. potentially the fee will wipe out the interest earned.

Then apply for a new spend/0% card and keep going...

newstoozer
Posts: 15
Joined: Tue Mar 22, 2016 5:49 pm

Re: Stoozing tactics

Postby newstoozer » Tue Apr 05, 2016 7:05 pm

Thanks guys.

I see some of the best deals are around 24 months at the moment. Assuming these offers hang around I'd be looking at one application/credit search every 18 months or so, which I figured wouldn't do me any harm. having said that I've always paid off every card I've ever had in full each month so not sure if switching to minimum payments may have some kind of impact.


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