Planning a big one this weekend? You might want to triple check your credit card is still in your wallet, as 8am Monday morning is the most common time for Aussies to report their card as lost or stolen.
Treating yourself while on holiday may be one of life’s small joys, but breaking the holiday budget is costing Aussies a collective $4.6 billion a year.
Banks are ramping up credit card repayment plans following the lightening success of Afterpay, with Australia’s biggest bank, Commonwealth also due to launch a repayment offering in coming weeks.
Australians are making fewer new borrowing commitments, and are more likely to borrow to buy a home or to spend on a credit card, according to the latest lending finance figures from the Australian Bureau of Statistics (ABS).
The trend towards low-rate credit cards has made an impact on the Australian marketplace, with the average credit card interest rate on RateCity falling to a new low in April 2018.
The latest change to credit card interest rates from American Express could see Australians clear their card debts a year and a quarter sooner, saving hundreds of dollars in interest payments, according to RateCity calculations.
There are several dozen credit cards in Australia that currently offer 0 per cent balance transfers for at least one year.
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