Sunday, June 15, 2008

Credit Card Stoozing - Time To Stop Snoozing

Lets halt snoozing and start “stoozing”

Do not believe that we are trying to get you involved in any criminal activities here, we’re not and the whole procedure is legal and above board and will give you the opportunity to get one over on the credit card companies, who have got got been relieving us of our cash for many old age now.

First of all you will be itching to cognize what “stoozing” is, well the manner that it works may sound a small complicated, but when put option into pattern it is a batch easier than trying to explain.

Step 1

This is how it works, what you have to do is to apply for two separate credit cards that are giving you a introductory deal with a 0% interest free time period and make certain that one of your new credit cards will allow you transfer your credit bounds into a bank account. So do certain that you have got opened a high nest egg account at your bank, if not then putting the money into your current account will be fine, until you can open up up a nest egg account afterwards.

Step 2

Then you come up to the second of the two credit cards and this where you may happen that things go a small confusing. If the second credit card makes not have got the installation that allows you transfer the cash from the credit card straight into the bank account, then here is what to do, inquire the issuer of the second credit card to balance transfer from the first card onto the second credit card, this is a dorsum to presence manner of doing things but this volition move money from the second credit card to the first one. This transaction is regarded as moving a negative balance on to the other credit card, so will work in reverse. Once completed all you have got got got to make is inquire the lender of the first credit card to transfer this balance to your high interest nest egg account.

After you have navigated all of this, you will now be in ownership of a bank balance that is gathering interest, with the satisfaction of knowing that the money that is making you money, have come up up from a couple of credit card companies, who have given you an interest free loan.

Remember to pay the minimum payments!

All of this doesn’t come without a couple of problems that may trip you up. Firstly always and I will emphasize ALWAYS do certain that you ran into the minimum payment and the minimum payment only and do certain that it is paid on time.

Plan ahead…

Secondly do certain that you have got your adjacent set of two 0% interest credit cards applied for 5 to 6 hebdomads before the original two cards are coming to the end of the 0% introductory period. (Remembering that one must have got got got the installation to transfer the cash straight into your nest egg account)

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As soon as these new credit cards have arrived transfer what you owe over to the first two cards to unclutter them and then call off the original two credit cards, making certain that you state the issuer to allow their credit agency’s know.

If for some ground that your adjacent two credit cards are not in place, then you will have to retreat the cash that you owe to the cards from your account and pay them off in full, because retrieve you are doing this to do money on the interest, not to pay it.

This tin be carried on again and again, as long as you can get the 0% interest free time period and you are willing to allow the cash prevarication in the bank without touching it.

Tuesday, June 03, 2008

Super Balance Transfer Credit Cards

Credit cards are a great manner to pass money that you make not have got and we all cognize that so it is nil new to us. A credit card is a disbursement tool that many of us would experience as if we had had a limb cut off if we could no longer have got one, would also peal true to a batch of people.

Start Making Money

There are ways to do money from credit cards rather than them being a drainage on your finances. One such as manner that many may make not cognize about is the 0% “Super Balance Transfer”, another measure up from the 0% Balance Transfer, which allows you travel your debt around to salvage you from paying interest charges. The 0% “Super Balance Transfer” allows you to pay other debts.

This is how it works, a 0% “Super Balance Transfer” tin be used to pay off any debts that you have got that are not credit card related. This is done by paying the money that you will get from the new credit card straight into your bank account, leaving you free to pay off any mode of debt that you have, this is where it differs from the normal 0% balance transfer facility.

You can pay off any debt that suits

This cash can also be transferred into your account even if you are free from any debt, which intends that you can put your credit bounds into a high nest egg account, then once the 0% interest time period is almost over, you take the cash that the credit card company “lent” you and pay it back into and thus clearing the credit card debt. Always retrieve though that piece this cash is lying in your nest egg account assemblage interest you will still have got to ran into the minimum payment set by the credit card issuer, which is normally 2% of the balance or a minimum of £5.00.

The golden rule! Bash not utilize this card to do purchases!

Once you have got got paid off the credit card you volition be left with a net income for borrowing person else’s cash, but what you have to retrieve is that you don’t pass on the credit card, this volition only eat into the net income that are there to be made and could overcome the whole intent of why you were doing it in the first place.

Finding the credit card companies who offer this service habit be too difficult, but most volition necessitate a fee to transfer your credit bounds into your account, this will normally be a 2% charge to a upper limit of £50, though you may happen that a few credit card companies will not be charging as much as this.