Credit Cards News

How capping credit card interest rates could save Australians $1.53 billion a year

Australia’s credit card debt has risen to a total of $20.03 billion dollars, according to new RBA statistics out today. It comes as there are growing calls for the federal government to regulate credit card interest rates so there’s a maximum margin with the RBA cash rate, which is 0.10 per cent.

CBA to launch buy now, pay later platform – how it stacks up against Afterpay

CBA has today become the first big four bank to create its own buy now, pay later platform.

ANZ Low Rate

Balance Transfer

0% p.a. for 20 months on balance transfers with no balance transfer fee and $0 Annual Fee in First Year with an ANZ Low Rate credit card.*

Lower than average ongoing purchase rateReduced $0 annual fee in the first 12 months and $58 p.a thereafter.

Purchase Rate

12.49%

p.a

Annual Fee

for 12 months then $58

Late Payment Fee

$20

Go to site ANZ terms and conditions

A credit card that charges a low purchase rate and no annual fee so thrifty cardholders can keep costs down.

Payments giant PayPal to enter the buy now, pay later sector - how does it stack up?

Competition in the buy now, pay later sector has just stepped up a notch with PayPal announcing it’s joining the club.

Credit card debt drops by $149 million as Australians start the year prudently

Australians have started 2021 paying $149 million off their credit card debt in January and taking the scissors to their cards.

Buy now, pay later self-regulation missing some teeth: RateCity

The buy now, pay later industry’s new code of practice is a step in the right direction but it’s unlikely to stop many customers from overspending.

December spending spree kicks credit card debt back above $20 billion

Credit card debt accruing interest has risen for the second month in a row, now back above $20 billion dollars.

RBA governor encourages Aussies to send credit card companies a message

Reserve Bank of Australia (RBA) governor, Dr Philip Lowe, has expressed his “frustration” with credit cards charging interest rates upwards of 20 per cent, and encouraged Australians to shop around for better rates to send a message to card providers.

Click Frenzy: $58 billion spent on credit and debit cards in November

Australians went on a spending spree the month before Christmas, making purchases worth $58.31 billion according to the latest credit and debit card statistics released by the RBA today.

1 in 3 Aussies don’t know their credit card interest rate, do you?

New research from Defence Bank has found that one in three (35 per cent) of credit card holders don’t know their interest rate. If you’re constantly being stung by credit card interest, it may be worth considering switching to a low-rate credit card.

Credit card hangover: how to pay off your holiday debt

If you find yourself struggling with a credit card debt hangover, there are steps you can take to get your finances back under control.

Think twice before overspending at the Boxing Day sales

Consumer advocate RateCity.com.au is warning Australians to keep track of their spending in the post-Christmas sales, with the national total expected to hit $19.5 billion, according to the Australian Retailers Association.

Credit card debt drops below $20 billion

New RBA figures out today show Australians have slashed the national credit card bill to $19.71 billion in October – the first time debt accruing interest has dropped below $20 billion in almost 16 years.