Do you remember a financial phenomenon called “stoozing”?

It emerged 10-15 years ago when financial consumers woke up to the idea that if they were smart enough they could borrow money from one institution then deposit it with another, at a higher rate – and thus make a handsome return for nothing.

Believe it or not, it’s not really that hard to live a paper-free life.

Free sex for anybody no sighn up or creditcards needed-38

But in today’s market there are other deterrents for would-be stoozers.

In order to stooze effectively, you need credit cards which allow you to make payments to a current account or other bank account where you could then earn interest. But today only two cards allow transfers into a current account.

If a borrower transferred £2,000 from MBNA’s credit card and put it into TSB’s Plus current account, he or she would be charged £80 in handling fees.

This £2,000 would earn £80 a year in TSB’s current account after basic-rate tax is deducted – wiping out the benefit.

But with rates as they are today, you will not make that much money from it.

"Also, if you miss a payment you will automatically lose the 0pc deal on the card, so it is important you pay your bill to avoid this, and the high interest charges.” Best 0pc purchase credit cards • Tesco Bank Clubcard credit card offers 18 months’ interest-free spending.The account also has a £2 monthly fee, so once that is deducted you're left with £72.You then pay off the £4,000 credit card bill – and that £72 is your profit.That said, with savings rates likely to rise, albeit slowly, and competition among credit card providers looking to grow, meaning more offers of low or zero-cost credit, stoozing could quite soon become a profitable venture once again. For some, the whole idea of borrowing unnecessarily is a no-no.You also need an excellent credit record – and you need to be aware that running large balances can make you an unattractive customer to other lenders should you need to borrow again. If I’m splitting dinner with friends, I drop my debit card in the center of the table like I’m dropping a mic.