If you've been following banking income strategies for the past 18 months, you'll have noticed things are changing. The Bank of England has been raising interest rates steadily, and the landscape that made stoozing so attractive—a world of 0% credit cards and weak best savings ratess—is shifting beneath our feet.
In June 2022, we're at an inflection point. Stoozing still works, but the maths have changed. regular saverss are suddenly worth your attention. And the strategy that made you £2,000 last year might not be your best bet this year.
This post is about understanding what's happening and adapting your approach. Because banking income isn't about dogmatically following one playbook—it's about reading the market and making moves that fit the conditions you're actually facing.
Why the Landscape Has Changed
A year ago, stoozing was the obvious choice for anyone willing to put in the work. You'd get a 0% credit card for 30+ months, use it to buy assets that earned interest (or simply keep the balance in an interest-bearing account), and pocket the spread between what your money earned and what the card company charged you (nothing).
Meanwhile, regular saver accounts offered pitiful rates—often 1–2%—because banks knew savers would only put in pocket change each month. Why would you bother?
Today, the Bank of England base rate sits at 1.25% and is climbing. The financial press is full of talk about further rises. What was invisible a year ago is now obvious: when interest rates rise, the entire equation flips.
0% credit cards are becoming rarer and shorter-term (expect 18–22 months instead of 30+). More importantly, the savings rates that were insulting last year are now genuinely competitive. Some regular saver accounts are hitting 4–5% APY. That's not a typo—that's real returns, guaranteed, with no risk.
When an easy-access savings account can give you 2–3% on your balance and a regular saver can give you 4–5%, the appeal of locking your money into a 0% card that requires active management starts to fade.
The Stoozing Math in a Rising Rate World
Let's be clear: stoozing isn't dead. But the economics have shifted, and you need to understand them properly.
Here's how stoozing worked in 2021:
- You got a 0% card for 30 months.
- You put £5,000 on it and stashed the cash in a savings account earning 0.5%.
- Your money cost you nothing (0%), earned you a tiny bit (0.5%), and you pocketed the spread.
- Over 30 months, you'd earn about £75 on £5,000. Not transformative, but free money.
Here's how it works in June 2022:
- You get a 0% card for 20 months (if you can find one).
- You put £5,000 on it and move the cash to a savings account earning 2.0%.
- Your money costs you nothing (0%), earns you more (2.0%), and you pocket the spread.
- Over 20 months, you'd earn about £170 on £5,000. That's roughly 3x better, but the duration is shorter.
The per-month returns are better. The total runway is shorter. The math still favours you—just less dramatically.
But here's the thing: a regular saver doing the same job removes a lot of friction.
Why Regular Savers Are Suddenly Sensible
A regular saver account is simple. You commit to depositing a fixed amount each month (usually £50–£500), and the bank rewards you with a higher rate—often 4–5% or even higher.
In June 2022, that's a serious offer. Let's run the maths.
Say you deposit £200 per month into a regular saver at 5%:
- Month 1–12: You've deposited £2,400 and earned approximately £60 in interest.
- You're earning guaranteed returns without the hassle of managing 0% cards, locking up credit limits, or watching cooling-off periods.
compare bank bonuses that to stoozing:
- You need a 0% card, which takes up a credit limit and requires careful management.
- You're paying attention to when the 0% period ends.
- You're manually moving money around.
- The rates on available stoozing-friendly savings accounts are now lower (2–2.5%), cutting into your spread.
For someone who wants to earn banking income without the complexity, regular savers are suddenly the better answer.
The Hybrid Approach: The Real Strategy for 2022
Here's what actually makes sense in June 2022: do both, but in the right proportion.
Stoozing still belongs in your portfolio if you have the appetite for it. Check out our live offers to see what 0% cards are currently available. If you find something with a decent 0% period (20+ months), you can still make it work. The money you earn might be lower per card, but it's still better than letting your money sit idle.
But the real engine for your banking income in 2022 isn't stoozing. It's a combination of:
1. Regular Savers (4–5% rates) Stack multiple accounts if you can. If your bank allows you to hold multiple regular savers, or you have accounts at several banks, each one can run in parallel. You're farming rates that are genuinely competitive without any of the credit card stress.
2. Bank Switch Bonuses (still substantial) A Starling or NatWest switch still nets you £1,200 in June 2022. That hasn't changed. Do 2–3 switches per year, and you're earning £2,400–£3,600 just from switching. Use our switching guide to manage the process smoothly.
3. Easy-Access Savings (2–3% rates) For the cash you're not committing to regular savers, park it in an easy-access account. These rates have climbed and they're now reasonable returns for zero effort. You get access to your money when you need it.
4. Limited Stoozing (where it still makes sense) If you find a card with 22+ months and you can lock it away, use it. But be selective. Don't take a card just because it's 0%—compare what you'd earn stoozing versus what you'd earn in a regular saver. The maths have to beat sitting in a 4–5% account.
Practical Example: A June 2022 Plan
Let's say you have £10,000 to work with and want to maximize your banking income.
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£3,000: Earmarked for a bank switch bonus. You move this to your new account and leave it there for at least 2–3 months (depending on cooling-off periods). You've earned a £1,200 bonus. Net result: £4,200 in that account for minimal effort.
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£4,000: Locked into regular savers across two banks (£2,000 each, assuming you can deposit £200–250 monthly). Over 12 months, at 5% APY, you'll earn approximately £200 in interest. Low stress, guaranteed, completely hands-off.
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£3,000: Parked in an easy-access savings account at 2.5% (your "emergency fund" or spare cash). Over the year, that's about £75 in interest. No friction, instant access.
Total annual return: £1,475 from these four strategies, on £10,000.
If you wanted to add stoozing on top—say you found a 20-month 0% card and put £2,000 on it instead of the easy-access account, earning 2% in a paired savings account—you might earn an extra £65 over 20 months. But you've introduced complexity and tied up a credit limit for managing an extra £70.
The original approach—with the easy-access account—might be simpler and still highly competitive.
What This Means for Your Approach
The rise in interest rates is good news for savers and good news for your banking income strategy—but it requires you to shift your thinking.
For years, the bank-switching world was dominated by a narrative: stoozing is the highest return, bank switching bonuses are secondary, regular savers are a side note. That was accurate when 0% lasted for 30+ months and savings rates were 0.5%.
That hierarchy no longer holds. In June 2022:
- Bank switching bonuses are still the most reliable income (£1,200+ per switch, roughly 3–4 per year for most people).
- Regular savers are now genuinely competitive, often beating stoozing on a risk-adjusted basis and requiring far less active management.
- Stoozing is still profitable if you're selective, but it's no longer the default move.
- Easy-access savings accounts have become actual earning vehicles rather than parking spots.
The winners in 2022 won't be the people dogmatically doing what worked in 2020. They'll be the people who adapt.
Common Questions
Should I close my 0% cards and switch everything to regular savers? Not necessarily. If you have a 0% card with 20+ months remaining, it might still be worth keeping it funded, especially if you can put the balance into a savings account earning 2%+. But when that card's 0% period ends, reassess. A new 0% card might not be a sensible use of a credit limit in 2022.
Can I maximize regular saver bonuses the same way I do with bank switches? To a degree. Most banks let you open one regular saver per account, and if you have accounts at multiple banks, you can run them in parallel. However, the earning is slower and steadier than a lump-sum switch bonus. Regular savers are a medium-term play, not a rapid-fire bonus farm.
What if interest rates keep rising? Will rates become even better? Possibly, but forecasting is risky. Your focus should be: capture what's available now. If rates rise further, you'll naturally benefit when you renew accounts. If they flatten or fall, you've already locked in reasonable returns. The eligibility checker can help you find the best current offers without guessing what happens next.
Is it still worth doing 3–4 bank switches per year? Absolutely. A £1,200 bonus per switch is hard to beat with any other banking strategy. The limiting factor is cooling-off periods and the number of switches your credit score can tolerate. Use our cooling-off period tracker to keep yourself organized.
Can I do all four strategies (switching, regular savers, easy-access, stoozing) simultaneously? Yes—and that's the actual smart move in 2022. You're not picking one strategy; you're layering them. Each one addresses a different part of your money. Switches give you lump-sum bonuses, regular savers give you steady returns, easy-access gives you flexibility, and selective stoozing fills any gaps. The complexity is manageable if you're organized.