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Credit card news and advice

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

  • Credit card rates still stubbornly high

    Thursday 02 April 2009

    In spite of a string of interest rate reductions by the Reserve Bank, such cuts are yet to be reflected in many credit cards. Figures released by InfoChoice revealed that of the 137 credit cards it has monitored since September 2008, the interest on 58 cards has not been changed. And of the 79 that have seen a change, interest rates on 12 credit cards has actually gone up – by an average increase of 1.27 percentage points. Those looking to compared credit cards may be interested to hear that the average interest rate on those cards on Infochoice’s database is currently 16.04 per cent, a fall from the 16.52 per cent record at the start of September. During the same period of time, however, the base rate has fallen four percentage points to stand at a 45-year low of 3.25 per cent. Shaun Cornelius, spokesperson for Infochoice, claimed that the difference in decline was "very hard to justify" and that those struggle to pay off their cards in full should seek out a low-rate credit card. In comments made in recent weeks, financial writer Ashley Ormond pointed out in an article for the Australian that it is imperative for people to repay their credit card debts. This article is brought to you by Mozo – helping you compare low rate credit cards.

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  • Credit card debt hits $3,500

    Thursday 02 April 2009

    Australians have an average of $3,500 outstanding on their credit cards, news.com.au claims.

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  • Spending spree continues in Feb

    Wednesday 01 April 2009

    Aussies continued to spend at near-record levels in February, with many still splashing the free cash that landed in their bank accounts in December.

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  • Credit card interest rates stuck in the clouds

    Tuesday 31 March 2009

    While the economic crisis has ushered in a frenzy of interest rate cuts from the Reserve Bank of Australia, many credit card providers are flatly refusing to bring down rates on their credit cards.

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  • Debt stressed Aussies 'need to compare credit cards'

    Monday 30 March 2009

    Those looking to get on a firm financial footing are urged to compare credit cards.

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  • Aussies looking to donate to charity

    Monday 30 March 2009

    The credit crisis rumbles on but kind-hearted Aussies are still looking to do their bit for the greater good.

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  • 'Clear credit cards' with stimulus package

    Friday 27 March 2009

    Aussies expecting a payout through the government’s stimulus package shouldn’t forget about clearing their credit card debts.

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  • Westpac 'lacks Virgin's credit card cool'

    Thursday 26 March 2009

    Virgin’s position as the company behind the most successful credit card launch in Australian history is unlikely to be challenged by Westpac.

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  • Mozo finds 'cheap' credit cards have a sting in the tail

    Monday 23 March 2009

    Online comparison site Mozo can reveal that many zero per cent credit cards are imposing hefty repayment rates for those who fail to pay off balance transfers in the introductory period.

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  • Credit card firms making deals on debt

    Friday 20 March 2009

    Many credit card firms are open to negotiation when it comes to people repaying their debts, one debt adviser has found.

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