Credit card news

Big changes coming for competition laws

These amendments will provide “greater protections for small businesses and more choice for consumers by boosting innovation and opening new markets”.

CBA faces $10m bill for ripping off customers

Commonwealth Bank will refund about $10 million after selling unsuitable consumer credit insurance to tens of thousands of Australians.

Macquarie revamps its credit card rewards

Macquarie today announced the launch of its new digital credit card rewards program.

Aussies abandoning cash and cheques for cards and tech

New figures released by the Reserve Bank of Australia (RBA) confirm what many of us have suspected for some time – fewer Aussies are making cash payments for their purchases, and more are utilising cards and other cashless fintech solutions.

Small businesses to start phasing out surcharges

Getting charged extra at the checkout when you pay with your plastic should largely become a thing of the past by the end of the year, with the Australian Competition & Consumer Commission (ACCC) preparing to enforce new laws on credit card surcharges by small businesses.

Westpac unveils basic, low-rate credit card

Credit card lenders taking axe to rewards programs

As of July 1, the way consumers earn and spend rewards points will drastically change.

Scott Morrison's credit card crackdown

‘Predatory’ credit card practices may be a thing of the past, as Scott Morrison announces new measures to protect vulnerable Aussies from racking up thousands in unnecessary credit card debt.

Move to cashless economy speeds up

Australia’s transformation into a cashless society is accelerating, with a new report showing increasing abandonment of cash and cheques in favour of digital and electronic payments.

Record scam numbers recorded

Australians are reporting a record number of scams, with the Australian Competition and Consumer Commission’s annual Targeting Scams report showing a 47% increase from 2015 to 2016.

New credit card will charge higher minimum repayments

Consumers will get a blessing in disguise when ING Direct forces them to pay off more of their debt each month with its new credit card.

Turnbull moves to stamp out excessive card surcharges

The Federal Government will introduce a ban on excessive card surcharges, to be phased in from mid next year, to stop customers getting unfairly ripped off when they pull out their plastic.