Finance News - News Home Credit Card News Banking News Loans News Insurance News Investments News News Archive Finance News Search
Advertisment
click here

Featured Credit Cards for July

American Express Platinum Card

  • Rate : %
  • Balance Transfer :
    % N/A

 

St George Vertigo MasterCard

  • Rate : 11.89 %
  • Balance Transfer :
    0% (for first 6 months)

 

BankSA Vertigo MasterCard

  • Rate : 11.89 %
  • Balance Transfer :
    0% (for first 6 months)

 

Citibank Clear

  • Rate : 11.99 %
  • Balance Transfer :
    0% (for first 6 months)

 

Aussie MasterCard

  • Rate : 11.99 %
  • Balance Transfer :
    0% (for first 6 months)

 

Advertisments
Allianz Insurance - click here     HSBC Serious Saver - click here

RAMS Home Loans - click here

Avoiding the credit card debt surge

Avoiding the credit card debt surge

Related articles

Date Published : Friday, April 18, 2008

As credit card debt continues to grow, more and more people across Australia are taking notice of the terms and conditions of their cards and looking at changing credit card companies.

Recent data released by the Reserve Bank of Australia showed that debt put on to credit cards continued to grow in February this year, as a result of continued spending, increased interest rates and the current global financial uncertainly.

However, credit card debt did grow at its slowest level for 13 years, as consumers pondered a credit card comparison and kept a careful check on their finances.

Credit card balances hit $43.25 billion as consumers continued to spend on their cards through the post-Christmas sales.

For those looking for a cheaper alternative to their current credit card, there are a number of different options currently on the market to suit consumers needs.

The HSBC low interest rate credit card offers consumers zero per cent interest on balance transfers until January 2009, with no annual fee required in the first year.

A 55-day interest free period is available on all purchases while the bank chares a fixed rate of 13.99 per cent after that period is over.

Meanwhile, Commonwealth Bank's no fee card - as the name suggests - does not require any annual fee, allowing consumers to keep hold of their money. A balance transfer rate of 5.99 per cent is charged for the first five months and a free additional credit card for a family member of a friend is allowed.

Compare and apply for Australia's best credit card offers.ADNFCR-1411-ID-18558552-ADNFCR

 

 

 

Latest Money News from Money-Au.com.au

  • Finance News
  • Credit Cards
  • Banking News
  • Loans News
  • Insurance News
  • Investments News
  • Buy now, pay later deals 'can have sting in tail'
    Buy now, pay later deals that come with an interest-free 'honeymoon' period can be extremely tempting to shoppers - but if they fail to manage the debt or do not pay it off before interest starts to accrue, consumers could end up paying a lot more than they bargained for.
  • Australia 'needs 1m new homes'
    Australia's "booming" population and continuing demand for homes means the country will require one million new homes to be built by 2013, new figures from the Housing Industry Association (HIA) show.
  • Household wealth of Australians 'up 50%'
    The average net wealth of Australian households increased by around a half between 2002 and 2006, a new report has found.
  • Groups suggests loans for maternity leave
    Parents exploring ways of remaining a home while their children are babies should be able to apply for a loan to provide them with paid leave.
  • Cash rate held
    The board of Australia's national bank has announced that it has decided to leave the official cash rate unchanged at 7.25 per cent for another month.
  • Household wealth of Australians 'up 50%'
    The average net wealth of Australian households increased by around a half between 2002 and 2006, a new report has found.
  • Report: Credit card and bank fraud numbers top 380,000
    Credit card and bank fraud figures in Australia numbered above 380,000 during the second half of 2007, making them the most popular ID scams in the country.
  • Government advised to control credit
    The Australian Bankers Association (ABA) has warned that the government needs to control consumer's access to credit if it wants to tighten up controls in the financial industry.
  • NAB-HBOS bid rumours continue
    Rumours that the largest bank in Australia is preparing to make a bid for Halifax Bank of Scotland's business in the country have stepped up a gear after insider information regarding the affair has come to light.
  • Court could beckon for eBay case
    Internet auction site eBay could be set for a court date with the competition regulator over the website's limitation of payment methods for Australian consumers, according to reports.
  • Cash rate held
    The board of Australia's national bank has announced that it has decided to leave the official cash rate unchanged at 7.25 per cent for another month.
  • Aussies stay on rich list
    The number of people in Australia who can officially call themselves millionaires increased last year, new statistics have revealed.
  • Budgeting for baby
    The impending arrival of a new baby brings with it a seemingly unending list of things to do, so much so that financial matters are often shifted to the back-burner - but experts warn that this approach can be "very dangerous", as bankrolling junior's early years requires careful planning.
  • Budgeting for baby
    The impending arrival of a new baby brings with it a seemingly unending list of things to do, so much so that financial matters are often shifted to the back-burner - but experts warn that this approach can be "very dangerous", as bankrolling junior's early years requires careful planning.
  • Australians 'putting less away for rainy day'
    The number of Australians that are putting some of their household income away in savings accounts has fallen as economic pressure forces some families to break open their nestegg, new research shows.
  • Buy now, pay later deals 'can have sting in tail'
    Buy now, pay later deals that come with an interest-free 'honeymoon' period can be extremely tempting to shoppers - but if they fail to manage the debt or do not pay it off before interest starts to accrue, consumers could end up paying a lot more than they bargained for.
  • Australia 'needs 1m new homes'
    Australia's "booming" population and continuing demand for homes means the country will require one million new homes to be built by 2013, new figures from the Housing Industry Association (HIA) show.
  • Groups suggests loans for maternity leave
    Parents exploring ways of remaining a home while their children are babies should be able to apply for a loan to provide them with paid leave.
  • Consumers take lodgers 'to help pay mortgage'
    Lodgers are being utilised as one solution to easing the financial burden felt by homeowners in Australia as mortgage repayments continue to squeeze consumer spending.
  • More homes needed, says HIA
    One million new homes need to be built in the next five years if Australia's growing population is to be housed, according to the Housing Industry Association (HIA).
  • Budgeting for baby
    The impending arrival of a new baby brings with it a seemingly unending list of things to do, so much so that financial matters are often shifted to the back-burner - but experts warn that this approach can be "very dangerous", as bankrolling junior's early years requires careful planning.
  • Budgeting for baby
    The impending arrival of a new baby brings with it a seemingly unending list of things to do, so much so that financial matters are often shifted to the back-burner - but experts warn that this approach can be "very dangerous", as bankrolling junior's early years requires careful planning.
  • Rise of the Kippers
    Difficulties in securing a home loan and the increasing cost of living in many Australian cities are fuelling an explosion in Australian Kippers - Kids In Parents Pockets Eroding Retirement Savings - according to reports.
  • Rise of the Kippers
    Difficulties in securing a home loan and the increasing cost of living in many Australian cities are fuelling an explosion in Australian Kippers - Kids In Parents Pockets Eroding Retirement Savings - according to reports.
  • How the Westpac-St George merger affects you
    As the dust settles on one of the largest changes to the Australian financial sector for decades, consumers across the country are pondering how the events at Westpac and St George will impact on them.
Advertisments
St.George Bank - click here   iSelect - click here   1Cover Insurance - click here