David Koch, News Corp and Mozo launch campaign to save Australians from unfair credit card interest
Financial comparison site mozo.com.au are championing the consumer cause in partnership with media giant News Corp Australia who launched consumer credit card hub moneysaver HQ this morning.According to cost of living editor John Rolfe the partnership is good news for Aussies fed up with whopping interest rates on credit cards. With an opportunity for Australians to join a new consumer networks to campaign on your behalf for fairer deals from lenders.
Inflated credit card interest rates are the first target in the sights of moneysaverHQ.com.au, a pioneering personal finance hub that aims to lower the cost of living on everything from loans to phones.
The initiative seeks consumers wanting to switch to a more competitive deal. Their combined buying might will be used to negotiate what is hoped will be a better offer, or offers, from major providers.
It's free to join and consumers would be under no obligation to apply for an offer. But those who choose to will potentially save hundreds of dollars a year in interest, when compared to paying the average credit card rate of more than 17 per cent.
"It"s all about getting a better financial deal for average Australians," said leading personal finance commentator and moneysaverHQ columnist David Koch.
It was a "catalyst for Aussies to join together, to flex their combined financial muscle and get the same attractive deals usually reserved for institutions or the wealthy few," he said.
"We are hoping to be able to use the power of people to negotiate credit card rates that will really help Australians pay down their debts once and for all," said Kirsty Lamont, director of financial product comparison service Mozo.The campaign hit airwaves on Sunrise this morning and those looking to find out more about the campaign or get involved can do so on the MoneysaverHQ website.