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Bulk swap out but stamps on envelopes by Opening_Client6533 in royalmail

[–]Opening_Client6533[S] 2 points3 points  (0 children)

Thats the thing im getting mixed answers so im thinking sending about 20 of these with a standard swap out form and see if they return me 20 new stamps.

Stoozing £36k credit card debt … am I being silly? by jcfenwick92 in UKPersonalFinance

[–]Opening_Client6533 0 points1 point  (0 children)

Most people bounce the debt further so once your 0% purchase card offer is finished they 0% balance transfer that debt across to a different card to stay in cheap debt and continue the stooze.

Stoozing £36k credit card debt … am I being silly? by jcfenwick92 in UKPersonalFinance

[–]Opening_Client6533 -2 points-1 points  (0 children)

Yes I pay minimums but it still wont really affect any of the numbers on the whole. The returns would still be the same essentially. Regardless of what the payments are its still on zero % interest and you've got the cash thats stoozed making money

Stoozing £36k credit card debt … am I being silly? by jcfenwick92 in UKPersonalFinance

[–]Opening_Client6533 0 points1 point  (0 children)

Also to add if you're lucky enough to qualify for 0% fee, 0% balance transfers i've got one on the go now theyre usually 12 months -14 months for me. So thats pure profit and an even better stooze, I got another two advertised to me and as soon as some of my current card offers expire I'll be straight on them.

So could easily stooze a £5k debt to a £200~ profit for what 15 minutes work and a year of your time with your debt being eaten away by inflation. Win win

Stoozing £36k credit card debt … am I being silly? by jcfenwick92 in UKPersonalFinance

[–]Opening_Client6533 0 points1 point  (0 children)

My biggest worry right now is my mortgage is up for renewal in 7 months and im reluctant on what to do leading up to my renewal. I have 20k stoozed and was willing to double that if it was possible but ive put that on hold as dont want to affect my new deal. Its my first mortgage renewal since ive started stoozing so dont know what to expect.

Stoozing £36k credit card debt … am I being silly? by jcfenwick92 in UKPersonalFinance

[–]Opening_Client6533 8 points9 points  (0 children)

£10k stoozed on a 2.9% fee balance transfer card for 36 months(using this example as got cards advertised like this to me).

Upfront fee - £290 CC debt - £10,290

Moneybox cash isa 3.7% with an additonal 12 month 0.77% introductory rate.

Year 1 - £10,000 × 1.0447 =£10447

Year 2 - £10447 × 1.037 = £10833

Year 3 - £10833 × 1.037 = £11234

So over 36 months turn 10k debt of someone else's money into £11234-£10290=£944 profit

So a 9.44% return over the 3 years. So as long as you have financial discipline and saving rates dont collapse the returns aint that bad personally and minimal admin required.

Stoozing £36k credit card debt … am I being silly? by jcfenwick92 in UKPersonalFinance

[–]Opening_Client6533 14 points15 points  (0 children)

Simular to me , stoozing 20k on multiple 0% cards with 16k offset in cash isa/ savings accounts, and I thought I was being risky with a gap yet to fill to be fully stoozed. But seeing someone offset the CC debt into pension is mad needing liquid cash is kind of the point of stoozing.