The Slow Stoozing Calculator - Slowcalc

Slow Stoozing Calculator Usage Notes

Although we believe this to be accurate, we offer no warranty of its accuracy. It is provided on an "as is" basis. The following notes are provided to help you complete the form.

Credit Card Limit - enter your credit card limit.

Monthly card expenditure - How much do you expect to spend on this card each monh.

Purchase interest rate - enter the interest rate for purchases on your slow stooze card.

Introductory Period (months) - enter the length of the introductory purchase rate period here.

Min monthly payment type - each month you have to make a minimum monthly payment to the lender which is either based on a percentage of the outstanding balance or is a fixed monthly amount. Select "Percentage" or "Fixed" from the drop down box.

Min monthly payment amount - If you selected "Percentage" for the payment type, then enter the actual percentage here (typically 2 or 3%). If you selected "Fixed" for the payment type, then enter the value in pounds that you have to pay each month. If you recycle your minimum payments (i.e. top your stooz pot back up each month) or if you make your minimum payments from your normal monthly spending money, then set the amount to 0 to see how much you will make.

Savings interest rate (AER) - Enter the annual interest rate (AER) that is payable on your stooz pot savings account. Check your account details to ensure that you get the AER. If you are using a stooz pot to offset your mortgage, enter your mortgage interest rate here.

Select Tax Rate - Select the tax rate that will be payable on the interest you earn. If you are a taxpayer, select "Basic" or "Higher" (as appropriate), unless you are using the stooz pot to offset against your mortgage or are saving the money in a non-taxable account such as a mini-cash ISA. If you don't pay tax, select "Not taxed".