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Credit card servicing

Discussion in 'Property Finance' started by luckystar, 24th Jan, 2016.

  1. luckystar

    luckystar Well-Known Member

    Joined:
    8th Nov, 2015
    Posts:
    56
    Location:
    nsw
    Just wondering how banks calculate servicing for credit card applications.

    Similar criteria for mortgages?

    And if your maxed out with serviceability with one bank in property loans would you avoid them if you wanted a credit card and go somewhere else?

    Quite keen to get on the points wagon!

    Cheers
     
  2. Greyghost

    Greyghost Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,262
    Location:
    Melbourne
    Usually 3% of the Limit on the card as a per month payment.
    Hence if servicing is tight - either close the card if no balance owing, or lower the max limit.
     
  3. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    1,176
    Location:
    Gold Coast
    rarely lenders will ignore the limit if you can show its been paid off

    ta
    rolf