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Yes, definitely good idea to buy below the median price for a property type and area :) Rookie, one more thing before we completely leave the finance part is that it might be good to do what aerobar suggested which is pay for a credit report from Veda.com.au (just check with them that getting a...

Rookie1, so glad I haven't put you in a spot of bother with the balance transfers yet :o You deserve every success in life with the bravery and commitment you show. So glad to hear that ex-partner may help out. If he won't, let us know, we'll send someone to 'persuade' him :D kidding... As...

Cor, thanks s0805! Read the article, great article :) In applying for an IP loan last year, I remember our bank manager asking us about 2 cards and what their limits were. I asked him how he knew about these cards, he looked at me with a straight face and said, 'oh they're reflected in your...

Aerobar, have an idea. Can someone (not Rookie1 but a friend or family member) apply for a 10K credit card transfer now and then one more 10K transfer in 4 months time? I know Lenders will see that there's been a hit to the credit file but can they see how much credit card transfer was borrowed...

FANTABULOUS, aerobar! Thank you so much for excellent info! MWAH! :p Exactly the accurate financial info needed for Rookie1's consideration. I was deeply worried about the effect of 2-3 balance transfers on Rookie1's credit file/credit score and home loan application but I couldn't find any...

Hi s0805, haven't forgotten about your concern too, 'does applying for credit card cause unnecessary hits against credit file'. From my research so far on credit files and credit scores, potential lenders can see that you applied for credit cards but they are probably more concerned with whether...

Hi Angel, yeah, I too thought having more credit cards would limit borrowing capacity. Between DH and myself, we have, I think, 6 credit cards that add up to nearly 70K of credit. But that didn't stop us from getting 2 IP loans last year. The number of credit cards we had was never mentioned as...

Will balance transfers affect credit score Hi Rookie1, I found this answer on creditcard.com.au under their Balance transfer credit card section. Rodney January 12th, 2014 at 10:16am Hi, I have 2 questions please... If my credit card limit is @ $7000 and i transfer the balance to another...

Hi Rookie, Yes, it was that easy :) If your visa was 0 balance and they transferred 10K in it. Your visa would have 10K extra money sitting on it. The balance transfer is not cash advance money. When you have 10K extra sitting on your visa and you withdraw it, it is not cash advance money...

Pleasure, Rookie!:D We look forward to hearing from you again :)

Hiya Rookie, My suggestion about the credit cards was simply to get you have to have a bigger deposit sooner rather than later should you see your dream property IP, as you said you were moving into a granny flat at your parents property. But Rixter is right, have you thought through your...

Hi Rookie1, Say you saw a 230K property now or even a 300k property that you really, really liked but because of not enough deposit, you're going to have to let that opportunity go for the moment. I am going to suggest something that can bump up your savings account in the immediate...

Rookie1, how much do you reckon you can save in say 4 months?

Since the differential between house/land and townhouse is not very large, if you stretch your budget a wee bit more, instead of a townhouse in Woodridge, you could get a house with land. Below is an example: - 230K - highset house with land 708 sqm...