News Archive for February 2018

With winter fast approaching and the nippiness of the cold taking it's toll in busy households, it's time to think smarter on how to keep the family warm this season. And although ‘tis the season for robes and slippers', it also means that our household energy bills will likely see a spike as we make the switch from air con to heaters.

Qantas nabbed two of three major travel gongs in Roy Morgan’s recent Customer Satisfaction Awards - but which rewards credit cards can help maximise your free travel with the flying kangaroo this year?

You probably know that interest rates have been stuck in a rut for some time now, and savers are feeling the pinch. But never fear - this March it's the time of year again when the Mozo Experts put their heads together to work out which bank accounts and savings accounts out there offer Aussies the best bang for their buck.

For the Aussies who like to keep up with the latest energy news, they’ll know that South Australia has slowly become the place for all things renewable energy.

From the added convenience of being able to pay for big ticket items on the spot, to points earning potential and even complimentary insurances - it’s no wonder Australians love their credit cards. In fact, according to RBA statistics from December 2017, there are just shy of 17 million (16,695,000) credit and charge card accounts in Australia.

You hit the apply button, change tabs, crunch through a quick episode of Brooklyn Nine Nine and check your inbox - congratulations, your home loan has been fully approved (and you haven’t even had to leave the couch).

There’s nothing like using the Easter long weekend as an excuse to do some travelling. But that usually means ticking a bunch of things off your to-do list before you can even pack your bags. So whether you’re planning a quick weekend getaway or a month in Europe, here are a few things to remember…

If you’ve ever applied for a home insurance policy, you’ll know the oodles of patience required to complete the process. There is form after form to fill out, as well as the couple of days typically needed to have your application approved - but all of that could be set to change for Aussie customers.

A backyard pool is the great Aussie dream for many - but it can suck up as much as 40% of a household’s total energy bill. But technology from Pooled Energy, which will be rolled out widely in a new pilot-scale demonstration, is aiming to change that.

Digitally-savvy, extremely loyal smartphone customers want to use their phones and watches to make payments and new research has found a large portion of Aussies are willing to switch banking providers to do so.

In a show of inclusiveness before this weekend’s 2018 Mardi Gras in Sydney, the design teams at two Australian banks have been busy showing off their flair with the release of two rainbow credit cards from St.George and a host of ‘GAYTMs’ from ANZ.

If you’re thinking about applying for a personal loan with NAB, it might be time to get your credit history in order because they’ve just become the first major bank in Australia to welcome Comprehensive Credit Reporting (CCR).

Summer is over, but with the Easter long weekend just around the corner, now’s the time to tackle those renos you’ve been thinking about, but always postponing. According to Mozo property expert Steve Jovcevski, there are two keys to a successful long weekend renovation which will add value to your home: planning, and a strict budget.

A fun fact about me? I love fruit. An even funner fact? Pineapples are among my top five favourite fruits. An even funner, fun fact? Pineapples ripen faster upside down.

In a move aimed at improving consumer protection and addressing the nations mounting credit card debt, the federal parliament passed a suite of changes last week, including a ban which will stop banks and other providers from sending unsolicited card limit increase offers to their customers.

Do you know your home loan rate? That’s the question UBank asked over 1,000 Aussies as part of its Know Your Numbers Index and as it turns out, we don’t.

Aussie lenders are luring prospective home loan customers with competitive introductory rates, but these could cost you thousands in unnecessary interest over the long run, according to recent Mozo research.

Earlier this week, NAB discontinued its Velocity Rewards and Velocity Rewards Premium credit cards, leaving Velocity Frequent Flyers with two less plastic options to choose from and Mozo did some data crunching to see which cards now offer travellers the best Velocity bang for their buck.

Many university students across Australia are lapping up the final weeks of a well-earned summer break with midweek trips to the beach or lazy days binging Netflix. Meanwhile, others are hard at work, saving their precious pennies for what is going to be a glorious semester abroad later this year - but how can their budgets benefit with an international money transfer?

Ah, Valentine’s Day. While loved up couples are looking forward to romantic evenings of candlelit dinners and shared desserts, many single Aussies are just one more social media post away from a night of sombre self reflection.

Although love is in the air this Valentine’s Day, a break up might be in your future - not with your date, but with your provider. Because staying loyal to your bank, insurer or energy provider doesn’t often pay off, and could mean missing out on big savings, Mozo data shows.

It’s easy to get stuck in a rut with your mortgage, and to stay with the same lender because it’s simpler than switching. But if the romance has gone out of your home loan and you’re no longer feeling the love with your current lender, it may be time to think about playing the field.

With Valentine's Day just hours away, thousands of Australians will be rushing around madly looking for last minute gifts for that special someone, but if you have stars in your eyes and a flutter in your heart for a new set of wheels, Harmoney may just have the perfect gift for you.

After months of speculation and in-house testing the New Payments Platform (NPP) has officially launched today, bringing with it a host of new capabilities which could transform the way Australians do their banking.

As the saying goes ‘if it ain’t broke, don’t fix it’ and while this may apply to many circumstances, your home loan isn’t one of them. And if you come to find that your rate is no longer competitive and that your loan doesn’t offer a range of features, it might be time to refinance.

You’ve probably heard a lot about a Banking Royal Commission over the past twelve months - but what exactly is under investigation, how did we get here and what can we expect from this landmark event?

Credit cards are typically used to fund items that Aussies can’t wait to have, but according to new Mozo research, 4 in 10 credit card holders are using their plastic to pay for everyday expenses, like groceries and bills.

Australian households are adopting renewable energy solutions like never before, with newly released January data showcasing a record number of rooftop solar installations across the country in the first month of 2018.

Online lender, loans.com.au has today slashed rates for both owner-occupiers and investors on certain home loans, and is now offering some of the lowest mortgage rates in the market.

Money and love might not go together quite like strawberries and chocolate or wine and cheese, but loved up couples can seriously benefit from tackling their financial demons before they head out for a romantic date this Valentine’s Day.

They say that hard work always pays off and prospective first homebuyers with good credit history could soon be reaping the benefits with a cheaper home loan.

Are you in the market for a home loan this February? Whether you’re buying your first home, upgrading to a new place or on your fifth investment property, finding the right mortgage offer is key to starting your property search off on the right foot.

With the arrival of the New Payments Platform expected sometime this month, we’re sure you can’t wait to make ‘real time’ instant payments without the need for a BSB or account number. And once it gets here, you'll be able to do that through Osko by BPAY- the first product to be developed under the New Payments Platform. Osko will be available through online or mobile banking - you won’t even need to download an app to use it!

You’ve heard of millennials, yuppies, DINKs and perhaps even HENRYs, but new research may well have unveiled a novel class of young, cashed-up, Australians who just love to travel - flashpackers.

Aussie women are stepping up to the plate when it comes to owning their own home, selling a house, or purchasing an investment property, new findings from Westpac’s annual Home Ownership Report show.

In an age of rapid technological disruption, Aussie banking practices are constantly changing and there is now a piece of technology that could be responsible for assessing your creditworthiness when you apply for a personal loan.

Big banks Westpac and ANZ will be forced to refund over $21 million to thousands of credit card customers following concerns by The Australian Securities and Investments Commission (ASIC).

Sometimes the motivation needed to start your new year's resolutions takes a bit longer than a month to kick in - especially if you’re still coming out of holiday mode in January.

If you feel like your bank could be treating you better, you’re probably right.

Financial jargon can be hard to keep track of at the best of times and just when you think you’ve gotten a handle on the latest money mutterings, a raft of legislative changes or technological disruptions mean that they change all over again.

The Reserve Bank board has kicked off 2018 in exactly same way it ended 2017 - with no change to the official cash rate which remains steady at 1.50%.

It’s the comeback no one can stop talking about - Bitcoin, the cryptocurrency slow making its way back into the digital wallets of Aussies across the country.

Australians are well versed in the art of tapping to pay - whether with their credit cards or, for the savvy few, by using their smartphones or wearables.

Aussies, young and old, are waiting to feel the effect of new legislation aimed at improving the transparency of rising energy bills as living expenses continue to drain family coffers, according to ME’s newest Household financial comfort report.

The Commonwealth Bank has launched a new introductory variable rate home loan offer of 3.79% (comparison rate 4.18%*) available to first home buyers for the first four years of their loan. But Mozo Data Manager Peter Marshall has cautioned that first home buyers may find themselves with a higher rate sooner than they think.

Lately it’s starting to feel like everyone is either on holiday or packing for their next international adventure. But as Aussie travellers tick buying travel size shampoos or getting travel insurance off their to-do list, they’ll also be on the lookout for their perfect travel plastic match.

South Australia will soon add another notable notch to its renewable energy belt after the Weatherill Government yesterday announced a deal with Elon Musk’s Tesla to deliver solar panels and batteries, free of charge, to 50,000 homes across the state.

You might not have been paying attention during the first month of 2018 and who could blame you - there were beaches to get to, bevvies that needed drinking and books that simply had to be read.

We love our new cars, in fact, we’ve never loved them so much. According to the Federal Chamber of Automotive Industries (FCAI), Aussies purchased a staggering 1,189,116 brand new vehicles during 2017 - but what does this mean for your car insurance?

While parents across the country are preparing to kick up their heels and farewell their kids to another school year, they’ll still have to face the dreaded morning hustle of getting everyone out the door on time.

Summer may be slowly coming to an end but that doesn’t mean temperatures are heading south just yet, and with the aircon cranking now that the whole family’s back from vacation, energy bills could be on the rise again.

Looking for a new piece of plastic to start off your February? This month we’ve noticed some pretty excellent deals on the market, including bumper bonus rewards offers and budget-friendly options for savvy savers.