September Newsletter
| Created: 17/09/2007 |
Dear Stoozer
Welcome to the September edition of our Stoozing newsletter. In this edition we bring you all the usual card news, information about further additions to the site, and two more articles to read
Meanwhile we have been busy creating a range of Calculators to help you assess how profitable each card offer will be for you. Since last month we have now added a Balance transfer calculator to help those with ongoing balances assess which card will help reduce interest by switching.
Best wishes
Stooz and Clariman
Best Deals
Best Balance Transfer Cards
The big mover this month is Capital one who now tops the Balance Transfers table with a fee free 0% card, but you need to have what they call an "excellent" credit rating. Precisely what this means is being discussed in the Forums.
If the fee-free deals are not for you, then you need to choose between the capped BT fee deals and the uncapped BT fee deals. While you pay a larger BT fee when it is uncapped, some of these deals are longer and may work out more profitable. Plug the figures into our stoozing calculator to see which is best for you.
Our pick of capped deals are Virgin Atlantic, Citibank and BMIBaby. The Virgin Atlantic card has the lowest fee, capped at £50 and (being an MBNA backed card) has a track record of good credit limits, low minimum payments and the possibility of getting a deal extension at the end of the 0% period. The Citibank and BMIBaby cards have a slightly higher capped fee at £75, but give you 9 months 0% versus Virgin Atlantic's 6. The limits being offered by Citibank (who also operate the BMI Baby card) have been quite variable and they do not have a history of offering repeat deals.
Virgin Money continues to hold the top spot on the uncapped fees section, offering 0% over 15 months (yes 15 months!). They are closely followed by natwest and RBS who are offering 0% over 13 months. Barclays also do 13 months but the maximum BT at 0% is £5000.
Best Purchases Cards
HBOS tops the Purchase cards table with its brand new 15 months Halifax Purchase card. The HSBC and Sainsbury's follow closely with matching 0% for 12 month offers.
Best cashback cards
Capital One also top our Best Cashback card table, offering 4% on all purchases for 3 months, followed by a straight 1% thereafter. American Express Platinum has been a consistent player at or near the top of this table paying up to 3% in the first 3 months, then up to 1.5% depending on your level of spend. Egg Money with its no-nonsense 1% cashback (up to £200 p.a.) is also a good bet.
Best Life of Balance Card
Goldfish (formerly Morgan Stanley) storm back into life for the non-stoozers who are just looking for a good deal on low rate lending with the new BuyandFly card at only 3.9% until 2010 (BT fee payable). Check out HSBC if you need an even longer deal at a slightly higher rate. The difference in fees may swing it for you.
Best Savings Accounts
ICICI sits at the top of our stooz pot accounts table offering an excellent 6.3%, closely followed by Sainsburys at 6.25% and Icesave at 6.20%.
Articles
Capital One A Smart operator and stoozer friend?
Capital One has been refreshing its product line and now sits at the top of our Balance Transfer Cards table and our Cashback Cards table. We felt that it was a good time to take a look at this smart operator, to review their current offerings and to take a look at how they work the different credit card market segments. Read more.
Stoozing research
Early Indications from Stoozing Research show a surge in profits for stoozers Our research shows that profits have surged by 39% and average Stooz Pots remain stable at £23,000. All looking quite healthy really. Read the full article here.
Regards
Stooz and Clariman
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