Is today the day stoozing died?

A question about : Is today the day stoozing died?

With the base rate now 3% surely there aren't going to be any savings accounts with a high enough interest rate to make stoozing worthwhile, or am I wrong?

Surely the only way stoozing can continue is if credit cards start offering SBTs with fees of 1% instead of 3%.

Best answers:

• A good point. Particularly painful for people who have just started a stooz (i.e. just paid the 3%).
  It will depend on what banks do with their savings rates.
  I'd bet that there will still be 5.5%+ rates out there for people happy to ditch and switch to keep up with the best deals. And for a stoozer that's not much of a problem.
  Banks are still going to want our money. They're still going to have to pay for it.
  For non-tax payers (or for Rodent!) there will still be money to be made.
  I don't think the credit card companies need to do anything to keep stoozers happy - I mean we can't make them much money, can we? I would imagine that they would be well chuffed if we were priced out of the game.
  In terms of non-stoozers, even with today's cut, 3% for 12m+ interest free loan is a very good deal indeed.
  I'd love to see a reduction in the fees charged (or go back to the days where there was a cap). Here's hoping they do it. Or maybe they'll start doing longer deals. Or maybe reduce their interest rate so _they_ pay _us_ 1.5% for the first 15 months!
• Slow stoozing could still be worth it, especially if you plan a big purchase. Balance tranfers, with a 3% fee or thereabouts.... no, not worth it anymore at all.
  But, if it means my mortgage rate is lower, then I'm all in favour. It was good while it lasted, but I'm not going to complain.
• The stoozing site is also discussing the idea of finding a high Fixed Rate savings accounts and using index-linked offset mortgage money (at rates around 3%) to move into a savings account (at around 6%). It's an idea.
• I supose it will still be worthwhile for the small time stoozers who use it to fill their ISA quotas.
• I think slow stoozing is too dangerous for anyone on a budget. Would be very difficult to keep up with what you had spent.
  Agree it's a good idea for a large purchase, but would be too nervous myself using the technique for everyday spending.
• I started with slow stoozing, so know I can do it. I keep tabs on my money and make sure I move it around when I need to. I work off the bill - in the past I would have paid it in full, now I pay the minimum and stooze the rest. I have a note of how big my stooze pot is and I just don't touch it. The fear of losing it and getting into a mess with it is, for me at least, bigger than the 'I want it now' feeling.
• Personally I stopped my plans to stooz when banks started to look too slippery - wouldn't like to think my chosen "holder of the golden stoozpot" decided to turn up their toes a month before the term ended... So I have one reasonably-sized 15mth debt that I can manage to fulfil from somewhere should the original provider cause me to claim compo. So I guess now I'll have to concentrate on cashback.
  Quote:
• i am in the process of applying for a mortgage and have had to pay back my stoozepot early (and therefore lost out a bit) to be able to get the rate i applied for (tracker).
  i think slow stoozing is still good for mortgage offsetting. again, maybe with a bt fee if the deal is for greater than 12 months.
  i too can pay my council tax on the credit card (normally cashback) with no fee/charge online - every little helps.
• On a fixed rate long-term mortgage so situation normal here.