Thought I would add my bit the conversation. I know someone that has a CBA wealth package which you are looking at ($300 a year)

The way I understand the best way to set it up is to open the MISA (morgage interest saver account) as said earlier this is a different account but offsets your loan, the beauty about this is that it can be redrawn for perosnal debt ie to pay off your credit card. My understanding is however that money can only be transfered in and out via phone or through the interenet, so the pay would have to go into an everyday account (next ot zero interest), then be transfered into the MISA. AT time of credit card payment then backout of the MISA into the everyday savings account to be paid into the CC. Sounds complicated but a lot better than the veridian idea and is transferable if you want to move to another property.

Hope this helps

Fish