Credit card news and advice

All the latest credit card news and top tips to help you manage your credit card.

Credit card rewards kogan david jones and coles offer up store gift cards

Credit card rewards: Kogan, David Jones and Coles offer up store gift cards

When you think of a rewards credit card, you may think of things like frequent flyer programs or points schemes attached to cards offered by banks and credit unions.But the truth is, that’s not your only option. In fact, a few Aussie retailers offer rewards credit cards, including big names like Kogan, David Jones and Coles.Like other rewards cards, these options allow customers to earn points as they spend, and in some cases offer discounts or vouchers to shop in-store with (when customers meet the spending requirements).Want to know more? Here’s a rundown of what these three big retailers have on offer when it comes to rewards credit cards.

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State lockdowns not phasing aussie spenders find cba and citi

State lockdowns not phasing Aussie spenders, find CBA and Citi

Fresh stats have shown that state lockdowns aren’t stopping Aussie shoppers from spending on their debit or credit cards. According to CommBank’s household credit and debit card spending update, card spending levels over the week ending on 2 July 2021 was a solid 13.9% above the week before and 16.5% higher than the same week in 2019 (pre-pandemic). Because card spending was so heavily impacted in 2020 as a result of the pandemic, CommBank compared 2021 to 2019 in this report, as 2019 is a reflection of a more ‘normal’ spending year.Interestingly, this increase in spending happened despite NSW, QLD, NT and WA all entering a form of lockdown at the end of June. In fact, Citi Australia’s head of cards and loans, Choong Yu Lum revealed that in the final week of June, Australia saw the biggest spend of the month despite lockdowns in various states. “Last year, lockdown anxieties triggered a drop in consumer spending. However, the data for June indicated consumers are no longer spooked by lockdowns, with heightened government restrictions appearing to bear no impact on volumes of monthly spend,” he said. As to be expected, CommBank found that for credit and debit card users in-store spending slowed by 5.8% when compared to the same period in 2019. Meanwhile online spending lifted by a significant 38.6%. 

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Credit card spending up and more aussies are applying finds citi

Credit card spending up and more Aussies are applying, finds Citi

As we look back at May, credit card spending remains at pre-COVID levels for the fourth month in a row. This is according to Citi Australia’s May 2021 Credit Card Index which found that credit card spending last month saw a 30% growth from May last year. On top of that, more Aussies are signing up for credit cards. When compared to the same time last year, Citi’s numbers showed a 25.5% increase in the number of cards being acquired. “At the start of the pandemic, many Australians preemptively cancelled their cards as they feared that their economic circumstances would drastically decline. However, the nation weathered the pandemic better than expected, and the credit card sector has been on a path to recovery since,” head of cards and loans at Citi Australia, Choong Yu Lum said. “May was not only the fourth consecutive month of spend returning to pre-COVID levels, but we also saw a 25.5% increase in new card applications compared to this time last year - a testament to local consumer confidence.” 

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Paypal launches rewards credit card in expansion to physical stores

PayPal launches rewards credit card in expansion to physical stores

You may know PayPal as a digital payment giant, but the company announced its next big step: launching its first-ever rewards credit card in Australia.The move sees PayPal expand its online offering to physical stores, with customers able to take PayPal anywhere worldwide where Visa is accepted. Cardholders can earn points with every eligible purchase and redeem them at any of the 750,000 businesses globally that have PayPal integrated at checkout (including over 300,000 in Australia). The PayPal Rewards Card comes with perks including 50,000 bonus rewards points, uncapped reward points that never expire and zero annual fees. PayPal Australia’s general manager for payments, Andrew Toon, said this flexibility could help credit card users avoid situations where they end up with Frequent Flyer or Velocity points they can’t spend because of COVID-19 border closures. “Customers have said they want a flexible rewards program with points they can redeem however they’d like,” he said.“The pandemic has made the value of flexible rewards even clearer, as many Australians have been left with travel-related points they haven’t been able to use the way they would like to due to safety concerns and border restrictions.”

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More aussie shoppers spending locally and digitally finds commbank

More Aussie shoppers spending locally and digitally, finds CommBank

Fresh stats have shown that over half of Aussies shoppers are opting for home grown. This is according to CommBank’s first ever Consumer Insights Report which evaluated the impact of the COVID-19 pandemic on Australian consumers. The report delved into the spending habits of Aussies and revealed that more consumers are choosing to make purchases from local businesses instead of overseas. And it’s across a range of items, the most popular included:

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How to see through a dud credit card deal

How to see through a dud credit card deal

If you’re in the market for a credit card, chances are you’ve seen a good mix of deals and offers from a range of providers. That’s why it’s essential to do your research and shop around. But contrary to popular belief, finding the right option is only half the battle. The other part is ensuring the card is a winner. Because beneath the flashy or limited time offers, there’s often a catch to watch out for. So to help you avoid a nasty credit card trap, we’ve listed five features to look out for during your search for your plastic match.

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New zealand travel bubble what are your credit card options

New Zealand travel bubble: what are your credit card options?

It’s been almost two weeks since the Trans-Tasman travel bubble opened up between Australia and New Zealand. With the option now available for quarantine-free travel for Aussies, many are looking to bungee jump, hit the slopes, or just soak in the scenery our neighbours to the south have to offer. So if you’re one of the ones that has the New Zealand travel itch, you may be asking yourself: what are my travel money options? (Bet you haven’t asked that question in a while!)  So to give you a bit of a refresh, a travel credit card may be a good way to go. Whether it’s a card with no foreign exchange rate or a card that could earn you a tonne of points as you fly and spend, or both, it’s all about making sure you get the most out of your travel money option. 

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