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Posted by admin in Credit Card News on 06 9th, 2010 | Comments Off
Credit Card Rates Update...
Purchase and cash advance rates on some credit cards, particularly some low rate credit cards, have gone up by more than the movements in the Reserve Bank’s official cash rate this year. Card issuers have also been changing their low-rate or zero-rate balance-transfer deals, shortening the periods... 
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Posted by admin in Credit Card News on 05 3rd, 2010 | Comments Off
Criticism on Woolworths debit card Schem...
Woolworths should reverse its clumsy intervention into the payments system to prevent any further inconvenience and confusion for scheme debit users. “Woolworths announced on April Fool’s Day that it would force all Visa Debit and MasterCard Debit cardholders to use the EFTPOS system... 
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Posted by admin in Credit Card News, Debit Cards on 04 29th, 2010 | Comments Off
From credit cards to debit cards...
AUSTRALIANS’ love affair with credit cards is waning as people switch to using cash and debit cards. Reserve Bank of Australia statistics show credit card use has dropped almost 17 per cent in the past five years and now accounts for just under 42 per cent of all card transactions. Debit... 
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Posted by admin in Credit Card News, Money on 03 26th, 2010 | Comments Off
Australians being mugged by banks over c...
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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Posted by admin in Banks, Credit Card News, Money on 03 25th, 2010 | Comments Off
Biodegradable credit card...
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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Posted by admin in Banks, Credit Card News, Interest Rates, Money on 03 24th, 2010 | Comments Off
Westpac to charge interest on credit car...
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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Posted by admin in Credit Card News, Money on 03 19th, 2010 | Comments Off
Majority can’t understand credit c...
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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Posted by admin in Credit Card News on 03 18th, 2010 | Comments Off
Fraudsters harvest teenagers’ deta...
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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Posted by admin in Credit Card News, Money on 03 18th, 2010 | Comments Off
Crackdown on excessive credit card fees...
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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Posted by admin in Credit Card News on 03 18th, 2010 | Comments Off
Secondary market develops for gift cards...
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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