What is Stoozing? Stoozing is a financial technique where individuals take advantage of 0% interest credit card offers to make money. The concept is simple: you borrow money using a 0% interest credit card (for an introductory period) and then invest or save that borrowed money in a high-interest savings account or other financial vehicles. At the end of the 0% interest period, you pay off the credit card with the borrowed funds while keeping any interest earned from the savings. The goal is to profit from the interest accrued without incurring any borrowing costs.

How Stoozing Works:

1. Sign up for a 0% interest credit card: Many credit card companies offer promotional periods where they charge no interest on purchases for a fixed period, typically between 12 to 24 months.

2. Use the credit card for purchases: During the 0% interest period, use the card to make your everyday purchases. The key is to avoid paying interest during this time.

3. Save or invest the money: Instead of paying off the card immediately, deposit the equivalent funds into a high-interest savings account or invest it elsewhere, allowing you to earn interest on the amount.

4. Repay before the interest kicks in: When the 0% period ends, pay off the credit card in full using the funds you set aside, while keeping any interest or profit you've earned.

How Curve’s Go Back in Time® Feature Enhances Stoozing

Curve Wallet ha a unique Go Back in Time® feature that makes stoozing easier by allowing you to switch purchases between different credit cards, up to 120 days after a purchase has been made. Here’s how you can leverage this tool for stoozing:

1. Optimise Credit Card Usage: With Go Back in Time®, you can initially make purchases on one credit card (for example, a cashback card) and then move the transaction to a 0% interest card later to avoid interest while still benefiting from any cashback rewards.

2. Switch Purchases Between Cards: If you find a better 0% interest offer after making a purchase on another card, you can use the Go Back in Time feature to move the transaction to the new card, allowing you to extend your stoozing strategy.

3. Maximise Flexibility: This feature gives you greater control over your spending, letting you balance between credit cards with different rewards or interest rates, helping you fine-tune your stoozing strategy for better returns.

Example of Stoozing with Curve:

Imagine you make a purchase of £1,000 on a credit card offering 1% cashback. You earn £10 in cashback, but you want to avoid paying any interest on the purchase. With Curve’s Go Back in Time, you can move that £1,000 transaction to a different credit card that offers 0% interest for 12 months, giving you time to save or invest the £1,000 and earn interest.

At the end of the 12 months, you use the money you’ve set aside to pay off the balance and keep the cashback and any interest you’ve earned in savings.

Advantages of Stoozing:

• Earn interest on borrowed money: By investing or saving the borrowed funds, you can generate extra income without any out-of-pocket costs.

• Cashback rewards: When used with a cashback card, you can benefit from both cashback rewards and the interest-free period, maximizing your returns.

• Flexibility: Using Curve’s Go Back in Time®, you can strategically move transactions between cards to make the most out of rewards and 0% interest offers.

Things to Watch Out For:

• Pay off the balance: Always make sure to pay off the entire balance before the 0% interest period ends, or you will be charged high interest rates on the remaining amount.

• Avoid unnecessary spending: Be mindful not to overspend just to take advantage of the offer—stoozing works best when you’re already planning to make the purchase.

• Stoozing can be a clever way to make extra money, and Curve’s Go Back in Time® feature enhances the flexibility of the strategy, allowing you to switch transactions between cards to maximise your benefits. Just make sure you manage your credit responsibly and keep track of when your 0% period ends!