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Essentially if you're currently paying 5.7% on the loan, you're better off to use money in the offset account than by using the credit card, if the fees on the credit card exceed 0.47%. If the fees on the credit card are lower than 0.47% of the transaction amount, use the credit card...

Quick observation: I hope you're paying off the credit card every month in full, otherwise you'll be paying large interest bills which will cost you far more than you save in the offset account. My quick calculations indicate that a 0.7% fee is higher than interest saved in the offset account...