News archive for October 2018

Credit cards might be key to Aussie first home buyers getting a foot on the property ladder - but we aren’t talking about buying a home on your plastic.

When it comes to the search for a great home loan rate, there are three types of Aussies: hopeful first home buyers, investors looking to buy their next property and current homeowners trying to refinance to a better deal.

Whether you’re tackling The Big Lap, cruising the Great Ocean Road or going on a mission to see every ‘Big’ landmark in the country, Australia is built for road tripping.

With the year winding down, you could be forgiven for spending a good chunk of your day staring out the window and planning your next holiday. Bali? Paris? New York? So many places to see and such little time.

A collaboration between three of Australia’s largest banks will now allow small businesses and contractors to be paid instantly by their customers on the spot, without the need for cash or bank details like BSB or account numbers.

If you’ve been waiting for the perfect time to enter the property market, there’s good news - QBE research has found that house and unit prices will likely continue to plunge in the next three years.

ANZ has well and truly bucked the long term downwards trend among saving rates this morning after injecting a significant rate increase to one of its main savings accounts.

Millennials know a lot about taking the perfect selfie or the best places to brunch, but according to new research from consumer education website, CreditSmart.org.au, it’s credit knowledge they’re lacking.

With the October 31 tax deadline looming, anyone who hasn’t put in their return yet might be dragging their feet as they look for extra expenses to claim. But if you’re thinking about putting your life insurance premiums down as deductions, think again.

Here at Mozo, we’re big believers that a little bit of luxury doesn’t have to cost you an arm and a leg. That’s why we’ve pulled together a list of Mozo Experts Choice Award winning credit cards that come with either a low interest rate or no annual fee, but also include some sweet platinum perks.

If you’ve picked the perfect destination for your Christmas holiday, booked flights, packed your bag and shipped the dog off to your mum’s place, then you’re totally ready to jet off on your trip and forget about things at home for a while, right?

Whether you’re planning your next family vacation or a solo backpacking trip, you know that when it comes to saving for a holiday, every penny counts. And with everyone from the big four banks to smaller lenders hiking their home loan rates in recent months, you could be feeling the strain on your purse strings in funding your next great escape.

We all know that cashing in your rewards point stash is a great way to keep Christmas costs down - but did you know there’s actually a few really good reasons why you should try to use your credit card for your Christmas spending as well?

It’s one of life’s greatest mysteries: when should you take out a life insurance policy? The reason there’s no clear answer to this question, is because it’s different for everyone - if you need life insurance and when you buy it will depend on your personal circumstances.

Major bank CBA this morning announced cuts to its Extra Home Loan headline rate, bringing the rate for borrowers to a relatively competitive 3.89% (3.91% comparison rate*).

It may be the state with (arguably) the best coffee, culture and the greatest selection of live sport in Australia, but new figures have revealed that Victoria has a new crown it’s residents might not be quite so keen on.

In the recent Mozo Experts Choice Awards for Credit Cards, we looked at some of the most innovative developments the credit card market had to offer this year, awarding the Best New Credit Card of the Year, Best New Rewards Credit Card of the Year and Credit Card Innovation.

ING has just unveiled an Everyday Round Up feature designed to help home loan borrowers save on their mortgage, as research reveals that more than half of Aussie borrowers fear they'll never pay off their home loan.

In the market for a new rewards card, balance transfer offer or no annual fee credit card? Then we’ve got good news for you - we’ve just announced the winners of our annual Mozo Experts Choice Credit Card Awards, split into categories designed to help you find the perfect plastic match for your spending.

As any Australian with money in a savings account will know, growing a balance has become more and more difficult over recent years thanks to steadily falling interest rates.

Another year has passed, and Mozo Experts Choice award winner Newcastle Permanent has once again impressed, providing better products, customer experiences and community benefits than the big four banks, according to its 2017-18 annual results.

With renewable energy growing in popularity, and Aussies turning to solar in record numbers, having affordable green energy options available to everyday Australians is becoming more and more necessary.

If you’re constantly dreaming of your next European adventure, then you know how important it is to score the best discount by booking early.

The start of spring is a time of new beginnings for Aussies. We pack away our winter doonas, give the house a good scrub down and start hitting the gym in time for summer. This year, it’s also the start of paying more for your home loan.

Spiders, snakes or just life in general, we all have our fears. But for some Aussies, it’s the thought of mounting credit card debt that makes their heart stop.

According to a recent survey by ME Bank, we’re a nation who loves a bit of luxury when it comes to our wheels.

Ok, let’s be honest: even though everyone loves to travel, airplanes are not everyone’s cup of tea.

Aussies love their rewards points, but recent Mozo data has revealed that for the average spender, the value of rewards on offer are totally outweighed by the annual fee on 1 in 3 rewards cards. Yikes!

When it comes to choosing an energy plan for your small business, it’s easy to just go with what you know. But what if you could shave hundreds (or thousands!) off your energy bill just by picking the right provider?

Out with the old, in with the new is the word on the street when it comes to taking out a personal loan.

After surviving the July 1 energy price changes, Aussies could see base energy prices increase this summer. This is due to both the reduction of water in the Snowy hydro dam and regular coal and gas plant breakdowns, which could see wholesale prices soar, with effects trickling down to everyday Aussies.

Beleaguered Aussie savers will be glad to hear that it's not all bad news when it comes to term deposit interest rates - although it's not great news either.

Looking to make your first move into the property market? A low deposit home loan could be your ticket to home ownership. If you've got a 5% or 10% deposit saved up, you'll be relieved to hear that plenty of lenders are still offering competitive low deposit home loans to first home buyers.

Lenders are rolling out generous home loan cashback deals ahead of Spring property season, in a push to win over new customers.

Mortgage rates are going up, with Westpac becoming the first big bank to raise rates out of cycle and other lenders set to follow their lead. Home loan customers will be justifiably upset, but the good news is that you don’t have to just swallow it.

Prep your wallets Sydney - the Night Noodle Markets are back!

If you cringe whenever someone suggests air conditioning, or pack the washer and dryer so full nothing gets clean, it may be time to reconsider your relationship with your energy provider. The 2018 Mozo Experts Choice Energy Awards might help you take the leap, revealing the cheapest energy plans available to everyday Aussies.

From a new pair of shoes to a tall bottle of red, many Aussies may already be preparing their Christmas wishlists. But for others, keys to a new car might be what they’re expecting to see in their stocking.

In September, a number of credit card providers - including Virgin Money, St.George, Bank of Melbourne and BankSA - made some adjustments to the balance transfer offers on their credit card ranges.

With house prices finally dipping after years of climbing, it’s looking good for first home buyers who want to put their foot on the property ladder - but as we know, it’s really not that easy. Pen to paper home loan applications are about as popular as a garden salad at the pub, and according to St. George Bank, Aussie’s would rather do almost anything else.

The Australian Competition and Consumer Commission (ACCC) is expected to launch an inquiry into foreign currency conversion services.

Aussies are living longer than ever before, but if you think that Medicare means you don’t need to worry about the cost of a serious illness, or about looking into a life insurance policy to help with expenses, think again.

October is officially here and finally things are heating up - at least, they are when it comes to the weather. The same can’t be said for the official cash rate though, with the RBA deciding to keep it steady for at least another month following today’s meeting in Sydney.

Between the number of Aussies who are nervously awaiting the final big four hike and those dreaming of owning their first home, the Aussie property market has seen better days.

Anyone else find it strange that October isn’t the eight month of the year? I mean, an octagon has eight sides, an octopus has eight tentacles, but yet October is the tenth month. Weird. Nonetheless, October is set to be a big month because it’s time to start it's time to get summer ready, start preparing for Christmas and confront your financial fears come Halloween. So grab your pen and pad because we’ve six things to add to your checklist.