Secondary market develops for gift cards...
Posted by admin in Credit Card News on 03 18th, 2010 | Comments Off
Gift card breakage rates could fall significantly as a result of the establishment of a secondary market in closed loop gift cards in Australia. Consumer group Choice has estimated that up to one in three gift cards are not redeemed, meaning merchants and card issuers reap millions of dollars in breakage... 
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American Express a flat earner for David...
Posted by admin in Credit Card News on 03 18th, 2010 | Comments Off
Christmas may be the most important season for retailers but it did not lift the profits of the credit card partnership that retailer David Jones has with American Express. David Jones said that its financial services business earned an EBIT of $21.2 million in the half year to January 2010, compared... 
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Credit cards – make the plastic wo...
Posted by admin in Credit Card News, Credit Card Tips, Money on 03 18th, 2010 | Comments Off
Despite the dangers of the credit card trap, there are some simple rules that can help consumers make the plastic work for them. Finance commentator Paul Clitheroe said choosing the right card was key. ” Go to the free websites such as Canstar & InfoChoice  or Best Credit Card Offers where... 
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Slow growth outlook for credit card mark...
Posted by admin in Banks, Credit Card News, Money on 03 16th, 2010 | Comments Off
Credit card issuers should get used to slow growth in their businesses, according to industry participants speaking at yesterday’s Cards & Payments conference in Sydney.Speakers agreed that the days of double digit growth in card spend were not likely to return soon. Figures released by the Reserve... 
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RBA open on credit card fee crackdown...
Posted by admin in Banks, Credit Card News, Money on 03 15th, 2010 | Comments Off
*  RBA watching credit card fees * Prefers competition to regulation * Interchange fees “still too high” THE Reserve Bank says it is a “reluctant regulator” of credit cards while leaving the door open to force providers to reduce interchange fees. In a speech on Monday RBA Assistant... 
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New Zealand bank seeks external capital...
Posted by admin in Banks, Overseas Finance on 03 12th, 2010 | Comments Off
Kiwibank is looking to lift its capital base by more than a quarter with the sale, for the first time, of hybrid securities. The move is significant in that this is the first time since the formation of the bank in late 2001 that Kiwibank has looked for capital from any entity other than its owner... 
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Commercial rates on hold...
Posted by admin in Banks, Commercial Finance on 03 12th, 2010 | Comments Off
Despite the RBA raising the cash rate last week, Liberty Financial has decided to absorb the increase and keep rates unchanged for new customers wanting a commercial mortgage. Liberty has recently revamped its suite of commercial products including boosting the maximum LVR for prime full doc... 
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Home loans from Australian Postbank?...
Posted by admin in Home Loans on 03 12th, 2010 | Comments Off
Christopher Joye, head of Rismark International, has suggested that a logical move for an Australian Postbank would be to offer home loans either by becoming a third-party lender or providing white label products. One proposal the head of former prime minister John Howard’s home ownership taskforce... 
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Dollar above US91c...
Posted by admin in Banks, Money on 03 12th, 2010 | Comments Off
THE dollar was slightly higher at noon as it traded in a tight range in the wake of the release of steady employment figures yesterday. At 12pm (AEDT), the dollar was $US0.9155/57, up 0.25 per cent from Thursday’s close of $US0.9139/44. Since 7am (AEDT), the local unit has traded between... 
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Credit card transactions down by 22%...
Posted by admin in Credit Card News, Money on 03 12th, 2010 | Comments Off
THE total value of credit card and charge card transactions, including advances, fell by 22 per cent in January, Reserve Bank figures released today show. Australians spent $17.1 billion on their credit and charge cards, compared to $22 billion in December. While transactions typically decline... 
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