What makes a good credit history

[Cody]

yes good question, are we banking with the wrong banks????Maccachic, tell us the secrets !!

[Maccachic]

Thoroughbred visa from National bank I put everything thru it I can, have it set up to pay it off fully at the end of the month and at the end of the year I get 1% cash back (think you get .5% untill you spend over $3000).

Its $50 per year.

[Keys]

BNZ offers interest on credit on your credit card.

[Perry]

Thoroughbred visa from National bank I put everything thru it I can, have it set
up to pay it off fully at the end of the month and at the end of the year I get
1% cash back (think you get .5% until you spend over $3000). Its $50 per year.

What are the fees? I.e. is that $50
net, or you have fees to pay out of
that amount?

[NovInvestor]

I suggest you get a credit card and use it often, but use it similar to a cheque account where you always clear the balance within a month, but preferably every week.

this way, the bank can see how well you manage your finances.

If you can manage your credit card debt and never have a cent charged for interest, then this demonstrates you have financial literacy and will help convince the bank that you can manage your mortgage as well.

[Maccachic]

Sorry fees are $50 a year so I get to keep the balance of 1% of whatever I spend. Nice to get a little back when say you have a large car bill etc

http://www.nationalbank.co.nz/person...hbredcard.aspx

[One]

Thoroughbred visa from National bank I put everything thru it I can, have it set up to pay it off fully at the end of the month and at the end of the year I get 1% cash back

Us too. We put everything we possibly can through the card and get a nice payout back. Fees are low too.

Consumer did a report a while ago on cc reward schemes. This wasn't the highest return but it's sure the most convenient. And a lot cost you money!

On travel insurance from credit cards: you have to pay half your prebooked travel through the card. That costs - travel agents charge a few percent extra if you pay by credit card. On an expensive trip it adds up.

[Perry]

I suggest you get a credit card and use it often, but always clear the
balance within a month, but preferably every week.

Why on earth would you pay weekly, as opposed to in-full-every-month?
What's the (personal) rationale for that? I don't imagine the bank cares
if in-full-every-month was achieved once-a-month or weekly. Monthly
seems best, to me.

Us too. We put everything we possibly can through the card and get
a nice payout back. Fees are low too.

Consumer did a report a while ago on cc reward schemes. This wasn't
the highest return but it's sure the most convenient. And a lot cost
you money!

Huh? I thought they all cost money? (I presume you mean 'net' at the
end of the year. ) What's the 'most convenient' comment refer to?

I've opted for the one that delivers the best in airpoints quantity. (Not
Amex, though!) Last year, a bit over $40k. That's about $455 worth
of AirNZ travel, plus reduced Koru fees, by $145. No extra charge for
additional cardholders, either. So that's $595 minus $200 annual fee,
giving me a net benefit of $395 - roughly. (Not counting the travel
insurance in those figures, as it's not 'regular.')

All fees refunded if annual spend exceeds $60k/year. Ha! Wonder what
else I can put on the card? The 'convenience fee' charged for making
rates payments just might offset that. Must check!

On travel insurance from credit cards: you have to pay half your pre-
booked travel through the card. That costs - travel agents charge
a few percent extra if you pay by credit card. On an expensive trip
it adds up.

I haven't used a Travel Agent for a few years, now. I found them to
be not very good value, so I book it all myself, over the 'Net, now.

Thoroughbred visa from National bank I put everything thru it I can, have
it set up to pay it off fully at the end of the month and at the end of the
year I get 1% cash back (think you get .5% until you spend over $3000).

Fees are $50 a year so I get to keep the balance of 1% of whatever I spend.
Nice to get a little back when say you have a large car bill etc.

What sort of annual figure are we talking about? Irrespective, pay-in-full-
every-month is the way to go, alright.

[eri]

BNZ offers interest on credit on your credit card.

is that like a debit card?

[speights boy]

BNZ offers interest on credit on your credit card.

You sure they still do this Keys?

They certainly used to in ' the olden days'; as it used to be handy when traveling overseas.
One credit card for purchases, and one in credit for cash.
Now there are other options.

Thought BNZ stopped the credit interest a while back.