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Thread: Credit Card Stoozing in NZ

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  1. #1
    Join Date
    Dec 2004
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    Wellington...there where the m
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    37

    Default Credit Card Stoozing in NZ

    Hi

    Was just wondering how the credit card market in NZ is compared to the UK.

    How are the interest rates etc....

    More importantly are there opportunity's for some Stoozing :cool

  2. #2
    Join Date
    Sep 2004
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    West Auckland
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    Default

    'Stoozing'??? Sorry, not a term I'm familiar with.

    Debs

  3. #3
    Join Date
    Dec 2004
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    Wellington...there where the m
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    Default

    Stoozing is making money from credit cards...

  4. #4
    Join Date
    Dec 2004
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    Near a North Island beach, in New Zealand
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    Default Re: Credit Card Stoozing in NZ

    Quote Originally Posted by RMJ
    Was just wondering how the credit card market in NZ is compared to the UK.

    How are the interest rates etc....
    It's very competitive, but interest rates are still high.

    Click here for details

    Don't know about stoozing! :?

  5. #5
    Join Date
    Nov 2004
    Location
    Kaiapoi
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    452

    Default

    Interesting idea, need to work out best credit card to have anyway
    in order to get some financial history going. Plus one cheque to the bank to pay the bill, less individual transaction charges from the bank.

  6. #6
    Join Date
    Aug 2004
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    Inland Canterbury, NZ
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    Default

    Could someone explain what stoozing is and how it works??? :?

  7. #7
    Join Date
    Dec 2004
    Location
    Wellington...there where the m
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    Default

    Stoozing:

    Taking adavantage of 0% interest deals on credit cards.

    Basiclly you take the money that the credit card company gives you and put it in a high interest savings account.....

    Just pay back the minimum repayments and at the end of the 0% period transfer to another card.

    Wife and I have been doing this for about a year now, excellent way of getting money out of the banks for nothing

  8. #8
    Join Date
    Aug 2004
    Location
    Inland Canterbury, NZ
    Posts
    8,390

    Default

    Hmmmmmm


  9. #9
    Join Date
    Aug 2004
    Location
    AKL--LON--AKL
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    22

    Default

    Quote Originally Posted by RMJ
    Stoozing:

    Taking adavantage of 0% interest deals on credit cards.

    Basiclly you take the money that the credit card company gives you and put it in a high interest savings account.....

    Just pay back the minimum repayments and at the end of the 0% period transfer to another card.
    I have done this once and earned myself a nice little sum. Because of my return to NZ in February, I haven't bothered again but was wondering... would it play havoc with your credit rating or trying to obtain credit in future? And can you go back to the same companies?

  10. #10
    Join Date
    Aug 2004
    Location
    Inland Canterbury, NZ
    Posts
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    Default

    As long as you pay back the correct amounts regularly this won't affect your credit ratings etc.

    I wouldn't accumulate too many cards though... surely a recipe for disater?

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