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.

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Find out more about how to stooz, stoozing methods and credit ratings at http://stooz.co.uk.