All Topics / Finance / Credit Cards and Credit History

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  • Profile photo of BenBen
    Join Date: 2018
    Post Count: 6

    Hi all,

    After looking everywhere online with little help, I would like to know from any experienced credit card users the following:

    Is it beneficial when having a bank assessment for a loan, to have a low limit credit card ($1-2K) with some history that is always paid off full on time compared to holding no credit card at all?

    Does credit utilization matter at all in Australia, should I only use a small amount of the limit or can I use most of it as long as I pay it all back on time?

    I only seek to improve my credit history (it’s already good), to potentially increase borrowing capacity in the future, is this feasible? I already hold an investment property and assume the loan serves for bank assessment, I want to know if a credit card will even help for future purchases.




    Young investor educating myself on property!

    Profile photo of TerrywTerryw
    Join Date: 2001
    Post Count: 16,213

    No. It will hinder you as it is a debt.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide)

Viewing 2 posts - 1 through 2 (of 2 total)

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