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Barnes/Adelaide Bank secured Visa card

Discussion in 'Property Finance' started by Cimbom, 21st Aug, 2015.

  1. Cimbom

    Cimbom Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    212
    Location:
    Canberra now Sydney
    Hello,

    Just wondering if any of the brokers here have had experience with this product and whether the credit limit works the same way as a normal credit card? What kind of process is involved in increasing the limit, if it's possible?

    Thanks
     
  2. tobe

    tobe Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    897
    Location:
    Melbourne
    Adelaide bank secured visa works the same as a normal Visa card. The interest rate is usually a little better. They can be drawn at settlement if needed.
    Not sure about increasing the limit. Usually it is some form of credit assessment. App form and payslips.
     
    Last edited: 22nd Aug, 2015
  3. Cimbom

    Cimbom Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    212
    Location:
    Canberra now Sydney
    Thanks tobe. It's an existing loan