Financial crisis didn’t stop flow ...
Posted by admin in Banks, Money on 03 31st, 2010 | Comments Off
THE Reserve Bank says the global financial crisis did not stop the flow of credit to consumers looking to buy houses, although the costs of funding those loans increased and lending standards were tightened. RBA assistant governor of financial markets Guy Debelle said the GFC had a “material... 
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Australians being mugged by banks over c...
Posted by admin in Credit Card News, Money on 03 26th, 2010 | Comments Off
AUSTRALIANS are being ripped off. These are the findings of research into how our credit cards stack up against rules being introduced in Britain. The research has emerged amid a furore over Westpac’s decision to charge interest on credit card interest and fees. Federal Treasurer Wayne... 
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Biodegradable credit card...
Posted by admin in Banks, Credit Card News, Money on 03 25th, 2010 | Comments Off
Banks are getting in on the green act. The saying: “paying with plastic” is soon going to be a thing of the past as financial institutions promise the development of a new biodegradable credit card. Virgin Money, headed by staunch environmentalist entrepreneur Sir Richard Branson is leading... 
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Westpac to charge interest on credit car...
Posted by admin in Banks, Credit Card News, Interest Rates, Money on 03 24th, 2010 | Comments Off
WESTPAC customers are about to be slugged interest on their interest. The bank – which is already making about $18 million a day in profit – has written to hundreds of thousands of credit card holders that from June “interest will also apply to interest charges and fees on your credit-card... 
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Credit Union cuts variable rates...
Posted by admin in Banks, Interest Rates, Money on 03 24th, 2010 | Comments Off
A second niche lender with national ambitions has cut its interest rates on variable rate home loans. Credit Union Australia has cut rates on its standard variable mortgage for new customers by 0.25 per cent to 6.37 per cent. National Australia Bank’s standard variable rate, which is the cheapest of... 
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Shoppers using stores to dodge ATM fees...
Posted by admin in Banks, Money on 03 23rd, 2010 | Comments Off
CUSTOMERS are grabbing cash from store checkouts in a backlash against ATM fees. Woolworths, Coles, Big W and Kmart are among outlets that act as de facto banks – even for customers who don’t buy anything. Woolworths spokesman Luke Schepen confirmed customers could withdraw cash... 
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UBank goes mobile...
Posted by admin in Banks, Money on 03 21st, 2010 | Comments Off
NAB online banking offshoot UBank plans to offer its first mobile banking service later this year even though it has not yet recouped what the bank invested in getting its online savings account up and running. Earlier this week NAB’s revised earnings breakdown gave some clues as to the extent... 
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Majority can’t understand credit c...
Posted by admin in Credit Card News, Money on 03 19th, 2010 | Comments Off
In a recent study by the Communications Research Institute, just 14 per cent of participants could decipher a credit card statement and work out how to avoid paying interest on purchases. Only 29 per cent could find and explain interest that had been charged on the purchases listed on the statements.... 
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Fraudsters harvest teenagers’ deta...
Posted by admin in Credit Card News on 03 18th, 2010 | Comments Off
FRAUDSTERS are buying credit cards on the black market for as little as $8 each and then “harvesting” intimate details of teenagers from social networking sites such as Facebook to steal their identities. Queensland’s fraud unit head, detective Superintendent Brian Hay,... 
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Crackdown on excessive credit card fees...
Posted by admin in Credit Card News, Money on 03 18th, 2010 | Comments Off
EXCESSIVE fees for credit card purchases could be abolished in the wake of an inquiry into exorbitant surcharges. The charges are often applied by corporations with market dominance, such as airlines and taxi firms. They were allowed to be introduced by the Reserve Bank in 2003 in an effort... 
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