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:
Is this legit? How do we earn 6% interest on such a loan?
Yeah, what bank's gonna give you 6% interest?
not sure if serious
your friend,
ectomorphmuscle.blogspot.com
ohh really?
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 :)
0% Interest on a loan? That's crazy!
I love banks!
6k a year is not so much I think...
6k a year is much lower than minimum wage....
I should try this out though !
Hello
I went here today.
I wait on my blog.
supporting
Wait whaaat :o
I really don't see how this could work. Which bank would give away free money?
Who lends money with 0% interest? I must find these banks...
I just read this somewhere but can't remember where
thanks i think i shall try this.
im following btw ;)
very good idea, i may have to look into this some more! following
http://underratedfilms.blogspot.com/
Never heard of this, thanks for the info !
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