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    For those with an offset account, do you use your credit card all the time?

    Thanks Jason, I know i'm overthinking this whole offset thing. I know that extra money should go into it to reduce the interest etc. but i'm not a high income earner and it's only me that's paying for this house! I know this will change as my sons get older. These "savings" that will...
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    For those with an offset account, do you use your credit card all the time?

    So a big advantage of a redraw is that it reduces the total value of the loan. This is something that appeals to me moreso than the offset but I know the offset will be of benefit in the future if I turn the property to an IP. With the offset, those savings aren't actually paying off the...
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    For those with an offset account, do you use your credit card all the time?

    By putting heaps in the offset? Sorry if I come across as if i'm asking ridiculous questions but I never would have considered an offset in the past. My circumstances are different now though.
  4. C

    For those with an offset account, do you use your credit card all the time?

    alexlee, it's too late for that! It's all been signed and done. Settlement in mid March. Like i mentioned earlier the only reason i chose it was to be in a better position if i did choose to make it an IP down the track. Otherwise a basic variable loan would have done me perfectly.
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    For those with an offset account, do you use your credit card all the time?

    Mmmm, so an offset would be better suited for a high income earner or a household with 2 incomes?
  6. C

    For those with an offset account, do you use your credit card all the time?

    I've always wondered if the benefits were really that significant. The limit on my cc is only $2000 which is fine by me. There is no fee on the cc with this package. The only reason that i took out the CBA Mav package was because there is a possibility that this place MAY become an IP in the...
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    For those with an offset account, do you use your credit card all the time?

    Thanks everyone, I'm going to give it a try. I'll just be super vigilant and keep a track of every cent otherwise it's a very easy recipe for disaster.
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    For those with an offset account, do you use your credit card all the time?

    I see it as a very easy way to spend more than I earn. Paying bills, groceries, petrol, and everything else on it when i'm not on a huge income is a bit daunting.
  9. C

    For those with an offset account, do you use your credit card all the time?

    Hi Guys, I know that this question is not directly related to IP's BUT... For those of you with an offset account for your PPOR, do you use your credit card to pay for everything and then use the 55 interest free days while the money is sitting in your offset account reducing your...
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