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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.
ANZ Low Rate
Balance Transfer0% 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.*
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.
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Balance Transfer0% p.a. for 30 months on balance transfers (no balance transfer fee, reverts to cash advance rate of 22.24% p.a.) No interest free period applies to purchases while you have a balance transfer. Fees, charges, terms and conditions apply.