Like a lot of account types revolving credit by itself is neither good nor bad but by using it to its full potential it becomes a really powerful tool.
Who is it best for?
- Self-employed people who have “lumpy” incomes and outgoings benefit by being able to deposit at any time to any level without penalty. They can also withdraw back up to the limit without having to go through the process of applying for more through the Bank.
- Salaried people who receive bonuses or commissions can also benefit by using this type of account in the same way.
- High earning people who don’t want to limit themselves to only paying what the fixed rate portion of their lending dictates. They can also deposit extra into this account each pay without penalty.