Sunday, 6 February 2011

Many credit card companies are willing to lend you money at 0% interest, so why not take this cash and save it yourself earning 6% interest on it. This is known as stoozing, it's legal and very profitable; yet it's only for the really financially savvy.

How much? If you get a 0% card with a £5,000 credit limit you should comfortably be able to earn £250 a year on it. The biggest reported stoozer was making £6,000 profit a year from stoozing.

17 comments:

Chris said...

Is this legit? How do we earn 6% interest on such a loan?

Dudemeister said...

Yeah, what bank's gonna give you 6% interest?

Jordan said...

not sure if serious

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Kicking Rocks said...

ohh really?

G said...

Interesting post... just make sure that 0% is over the lifetime of the loan and your savings scheme allows you access to the money when you need it - following for more cool tips :)

Niko said...

0% Interest on a loan? That's crazy!

Come At Me Bro said...

I love banks!

murz90 said...

6k a year is not so much I think...

TreeBranchez said...

6k a year is much lower than minimum wage....
I should try this out though !

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AWLBloggs said...

Wait whaaat :o

Jason said...

I really don't see how this could work. Which bank would give away free money?

Ivan Montiel said...

Who lends money with 0% interest? I must find these banks...

Penguin941 said...

I just read this somewhere but can't remember where

bill said...

thanks i think i shall try this.
im following btw ;)

Dania said...

very good idea, i may have to look into this some more! following

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Killuvogel said...

Never heard of this, thanks for the info !