Definitions
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun slang A form of
arbitrage in which money isborrowed at aninterest rate of 0% andinvested elsewhere to make aprofit until the borrowing period ends.
Etymologies
from Wiktionary, Creative Commons Attribution/Share-Alike License
Apparently coined in 2004 from Stooz, nickname of a contributor to Motley Fool Internet message boards, and -ing.
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Examples
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We made use of cash ISAs, moved money around to get better interest rates and I also got seriously into stoozing, becoming a bit of credit card expert in the process.
john commented on the word stoozing
"The essence is simple: if credit card companies will lend money at 0 per cent, you can borrow it and then save it at a high interest rate so you're earning money on cash they have lent you for free. My fondest stoozing memory is being lent thousands of pounds on Egg's credit card only to shove it into Egg's savings account, so it paid me hundreds of pounds in interest on its own money."
The Sunday Times, May 13, 2007
September 29, 2007
uselessness commented on the word stoozing
Jeez, that's smart. Wonder if it's possible to do this today?
September 29, 2007