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    Stoozing on a small scale

    Hi ive read a little about this on MSE, but the people that say dont do it! scare me abit lol.

    All i want to do is fill my ISA up £3600 straight away of the credit card (must be 0%)

    and then i will pay the credit card off within the year...all im trying to do it benefit from the isa being full up for most of the year.


    Am i right in thinking i need a balance transfer card at 0%? and ideally i would only want to apply for one card to do this...

    Any Help people..?

    9 Comments

    Make sure the card youre taking out allows transfers into a bank account (most dont) and that the ISA account is already open when you apply for the credit card. Also, take the 2.5 / 3 % fee into consideration when calculating whether the return is worth it.

    Original Poster

    thanks mate appreciate it

    This sounds like an interesting ploy...post what you find out?

    If you have an egg money card, you can transfer from any credit card to your egg money account and from then on either directly to isa (if egg allow you to do that) or to your linked current / savings account and then to isa account

    on most cards nowadays, there is 3% fee for balance transfers, so that would cost £108, would you make that back?

    Original Poster

    imranmaz;1893211

    this is a silly idea tbh.... yeah you might make about £80 at the end of … this is a silly idea tbh.... yeah you might make about £80 at the end of it but is it worth the hassle? do some overtime and save your credit rating...it will help you out later on!



    some people dont get the choice of overtime, and i would be paying it off month by month so it wouldnt effect my credit rating because i wouldn't be missing a payment, and if the card 2.5% and my isa is 6% then i would make £126.00 free money.Thats right F-R-E-E:whistling:


    moneysavingexpert.com/car…rds

    Original Poster

    maffster;1893193

    on most cards nowadays, there is 3% fee for balance transfers, so that … on most cards nowadays, there is 3% fee for balance transfers, so that would cost £108, would you make that back?



    I would potentially make £108 profit on a 6% isa and a 3% balance transfer card, or on a 2.5% balance transfer it would be £126

    you could always look for a card with 0% on cash advances, then draw the money out into an ISA. If you don't get this paid off in a year, keep balance transferring it every year (ok, you'll pay another 3%, but your ISA will earn more than that) until it's all paid off.

    imranmaz;1893211

    this is a silly idea tbh.... yeah you might make about £80 at the end of … this is a silly idea tbh.... yeah you might make about £80 at the end of it but is it worth the hassle? do some overtime and save your credit rating...it will help you out later on!



    This would improve you creditr rating...
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