Which card to choose for stoozing?
|
  |
|
|
| Author |
Message |
terrence
Apprentice
Joined: 21 May 2006
Posts: 4
|
 Posted: 11/25/07 - 08:36 Post subject: |
 |
|
| Yesterday, I accidentally overheard two colleagues talking about stoozing. As I managed to understand, it is some way to borrow money from the bank, earn some interest on it and then return it in the bank. I don't know how that could be possible. Would charges not eat all the interest? Which card to choose for stoozing? |
|
|
Back to top
|
|
|
|
 |
bryon
Apprentice
Joined: 28 Aug 2006
Posts: 9
|
| Posted: 12/24/07 - 23:35 Post subject: |
|
|
| Most of the credit cards in the UK will typically offer 0 interest on transferred balances for 6-12 months. That applies to all newly opened card accounts. In the same time, most cards also offer a similar period covering purchases. That way, a stoozer could use an introductory period balance transfer at 0 for transferring their new credit card limit into a higher interest savings account rather than an existing debt. It is slow but safe way to earn the money. Stoozer should pay attenuation on only one thing and that is to repay the money before 0 interest period expires. Otherwise, credit charging would eat all of his interest. Several devices exist to maintain offsetting saving account balances in this manner. One of the most often device are credit card cheques. There using allow to the borrower to directly credit themselves rather than pay down an existing debt immediately. So you could choose from almost any card you want. |
|
|
Back to top
|
|
|
|
|
|
| |
All times are GMT
|
| Page 1 of 1 |
Related topics: | |
|
|
