Hi Everyone!

I've just came across two sites about a method called stoozing.

Here they are:
http://www.stoozing.com
http://www.mycreditstrategy.com

Have you ever heard about them? Have you ever tried to make money this way? Does it really work?

The method seems logical and very good if managed properly...

What are your oppinions?

Best Wishes,
Allanon

I`ve never heard about that before, I`ll check out your links, it sounds interesting

I read it over, and I don`t think is something for me, but I wish you the best of luck if you decide to try this

I can see where this would work, but it's not for everyone. Some of those cards are difficult to obtain for people with less than perfect credit.

eh frend i nvr try such thig b4 ler?? u al try b4 is it boys? wat expreince u get ler?? i got 2 coperate brand cards ler................i dunno if tis work ornot.............mabe i try wif my other cards liao n c hw ler keeeekeeee

I had the same idea when I was in year 11 on interest free cards, problem is in Australia at least the interest on purchases may be free but if you withdraw on cash (make deposit from credit card) it charges a premium rate - if your after-interest free time interest is 11% they'll charge about 24% - inside the interest free time or not.
I guess you could however buy a commodity on credit then sell for cash but then you'll have to think about price fluctuation risks before you can sell it and brokerage fees. Actually if you immediately close the position with brokerage it would register as a capital loss therefore be tax deductible which could turn out to be very helpful at the end of the year. I'm not sure if brokerage is though.

EDIT: I just spoke to my uncle who knows a lot about taxation and he said it would be tax deductible depending on whether the Australian Taxation Office (ATO, ATO.gov.au) considers you to be a trader (taxed on income) or an investor (taxed on capital gains) and the definition is rather "rubbery" as he put it.

This post has been edited by iZero: Sep 7 2007, 09:03 PM

I've been guilty of such practices for quite sometime

eh mr nosy are you really so honest keeekeeee????

I'm honest Lesbian girl

oh really???? please???????!!!!! no one is truly honest when in comes to cyberspace who are you kiddin mr nosy keeeekeeee so don't expect me to anyhow believe anyone that comes straight to my face and tells me he is honest keeeekeeeee i maybe friendly and appear to be silly but i'm not stupid as u think or anyone thinks keeeekeeeeee...............then again............ you might be honest keeeekeeeee

Are you HONEST lesbian girl?

Yes she is Xoia...Well at times too honest for her own good lolz



Yes I know you are not stupid Yasmine...Definitely not stupid

yup i am keeeekeeee



This post has been edited by Lesbian: Oct 12 2007, 06:05 AM

thanks darlin for havin faith in me keeeekeeeee

Whoo... this thread went way off topic

It's in general chat right lol

Danny...