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| Check Your Credit Rating Before Stoozing |
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Check Your Credit Rating Before Stoozing
Each time you stooz you run the risk of damaging your credit
rating. Each application you make for credit, be it for a credit
card, loan, mortgage or even just for a mobile phone contract,
is recorded and filed away in a central register. This register
is accessable by the people who provide you with credit - even
your credit card providers - and will be used to determine
whether or not you are worthy of credit facilities.
Finance companies check these records when you apply for a new
line of credit, and if you have too many applications within a
given time, or have too much credit available to you they may
refuse your application. Other reasons for declining credit
applications include defaulting on payments, periods out of work
and other factors. The exact algorithm for calculating a persons
credit score is kept a secret to prevent fraud. Some of the
other factors include homeownership and criminal records.
When you stooz regularly you will build up a large history of
credit applications. Most stoozers advise that you should leave
as long as possible between applications, and also to avoid
making credit applications that are not necessary. Some stoozers
also recommend that credit cards are cancelled once used.
If you stooze a credit card with a 0% balance and a maximum
credit limit of ?15000, and the general investement or savings
rate is 5% then over the time of a year you can expect to earn
5% or $15000 which is $750. This is just the stoozing profit
from one credit card - if you have many credit cards then you
can earn this amount many times over.
Stoozing is not, however, for everyone. You need to be a strong
person to not spend the credit on offer. If you are a bit of a
shopaholic, or you have a bad history with credit, then stoozing
may not be for you.
Moving your existing credit balance to a new credit card is a
popular way of stoozing. This has the advantage of costing you
much less in interest (providing you choose the right card).
Many people do not realize that by paying less interest you can
actually pay off your debit earlier - each month more of your
payment is paid against the balance rather than just paying off
the interest chargeable.
If you are careful it is possible to play the credit card
companies at their own game and take advantage of them. Just
remember that they will take advantage of you if they can.
About the author:
Find out more about how to stooz,
stoozing methods and credit
ratings at http://stooz.co.uk.
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| Category
bad credit,loan and insurance |
Author
David Gabbitas |
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