'Compare debit cards to save cash this year'


Tuesday 18 January 2011

Aussie consumers have been advised to ditch credit cards and compare debit cards in a bid to save cash this year.

'Compare debit cards to save cash this year'

Setting out ten tips for saving money in 2011, the Smart Money section of The Queensland Sunday Mail recommends switching to fee-free and interest-free VISA and MasterCard debit cards which, it says, are "enormously popular" with millions of debt-conscious shoppers.

Where consumers want or need to hang on to a credit card, meanwhile, the section suggests switching to "a lower cost or lower feature product".

Elsewhere, it recommended setting up a fee-free transaction account and quoted Mozo chief executive Rohan Gamble, who named the NAB Classic Banking account as his pick for a fee-free full access transaction account.

"It is great for people who want both branch and electronic banking access, and fee-free banking without the hassle of meeting certain account conditions," commented Mr Gamble.

Setting up a savings plan, tackling home loan debt and making voluntary super investments were among the other Smart Money tips.

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