Has/is anybody used/using the CBA's Viridian LOC product and if so, apart from the info on the CBA's website, is there anything one should know about using this product that may not be readily apparent?
Have you had postive or negative experiences with this product?
Getting a viridian is purpose dependent.
I've had them for years now, but blend it with offsets.
Lines of credit will be your best friend or your worst enemy, and dont be conned by people who tell you you'll pay your house off faster with one... their experiences versus yours will be two different things
Thanks Blue Card and the artist formerly known as Lukentel.
The purpose of the LOC would be strictly for investment purposes (mainly for deposits). I do also have an offset account against the main residence but want to keep that in place for private purposes so I can segregate my funding facilities.
we've got 1 and its great.
set up a few years ago now so not sure if same rules apply these days to new ones but its a true revolving LOC so we don't have to physically deposit interest repayments into account each month, it just gets taken out of LOC IYKWIM.
we've also got a banksa one which isn't like that and its a pain!