Credit Cards - Page 10

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How Many Rewards Points Will Australia Earn This Christmas?

Thanks to all the splurging we expect to see this Christmas, Australia will likely earn quite a few rewards points. But just how many?

credit cards - October 12

zipMoney: 'Australia's Credit Card Usage May Be About To Peak'

A recent study has revealed Australia might be about to experience a “terminal decline” away from credit card usage as the nation reaches what researchers dub the ‘Peak Credit Card’ period. ZipMoney’s analysis of RBA (Reserve Bank of Australia) and Pocketbook data found that Australian consumers paid credit card providers over $1.5 billion in credit card fees in 2016. According to zipMoney Chief Growth Officer and Head of Credit Research Andy Mitchell, this high level of credit card fee revenue indicates Australia may be reaching what he calls ‘Peak Credit Card’. “Peak Credit Card is the point at which maximum credit … Continued

credit cards - September 27

Excessive Credit Use: Now The Biggest Cause Of Insolvency In Australia

New research from the Australian Financial Security Authority has found that over a third of personal insolvencies in 2016 were caused by excessive use of credit.

credit cards - September 06

Could Positive Credit Reporting Give Consumers A Better Deal?

New research has revealed 89% of Australians want more competition in consumer lending, but only 15% know about positive credit reporting and how it could improve product choice and interest rates for consumers. GetCreditScore.com.au’s survey of over 1,000 Australians shows that young people, in particular, are the least knowledgeable about how their positive behaviours could influence their credit score. Only 12% of Millennials know about the positive credit reporting system introduced in 2014. Head of GetCreditScore.com.au Luke Keller said while it’s not surprising that Australians want more competitive lending, it’s “alarming” that many do not know about positive credit reporting. … Continued

credit cards - September 03

Smartest ways to use a reward credit card

Reward credit cards aren’t for everyone. Make sure you’re following these 5 rules and using your credit card the smartest and wisest way.. Working out which is the best credit card-based rewards program for you is not as straight forward as you may think. Used correctly, rewards can be worthwhile. After all, chances are you were going to spend that money anyway so why not get something back for it? On the flipside, a rewards card used wrongly can see you deeper in debt. To avoid this, there are certain golden rules to follow. 1. Pay the card off in … Continued

credit cards - August 22

Store Credit Cards & Rewards Programs

A number of Australian retailers and stores offer credit cards in order to reward customer loyalty. But what exactly are store credit cards, and who offers them in Australia? If you’re an avid shopper considering getting a new credit card, then a store credit card could be worth considering. This article will go over what a store credit card is, who offers them, how you can apply for one and how you can use them to your advantage. What are store credit cards? Store credit cards are really just regular credit cards; you can still make purchases and you still … Continued

credit cards - July 13

Four tips on how to use your tax refund

You might be lucky enough to be receiving a welcome lump of cash soon after filing your tax return – but should you be saving or splurging that refund? For many Australians, a tax refund is a significant financial boost that they look forward to each year. According to ME Bank, in 2014-15 the Australian Taxation Office (ATO) issued an average tax refund of $2,564, and out of 13.2 million taxpayers, 10.3 million received a refund. When handed a sum of money like that, it can be a tough decision to choose the best use for it, especially with the … Continued

credit cards - July 03

Should Small Businesses Prepare For Credit Card Surcharge Changes?

Australian small businesses are being urged to start preparing now for the upcoming ban on excessive card surcharges that will apply to all business from 1 September 2017. The new card payments regulation set out by the Reserve Bank (RBA) in 2016, to be enforced by the Australian Competition and Consumer Commission (ACCC), will limit the amount that a business can charge customers for the use of certain payment methods. Small business merchants will still have the right to a surcharge for card payments, but the surcharge will be limited to the amount it costs the merchant to accept that … Continued

credit cards - May 05

Will This New Credit Card Make Aussies More Responsible?

ING Direct is taking a new approach in the credit card industry, with increased repayment on its credit cards, so that customers don’t spiral into debt.

credit cards - April 21

Mastercard New Fingerprint Card Announced

Mastercard has announced that their next generation biometric card with an in-built fingerprint sensor will be introduced by the end of 2017.

credit cards - March 30

Banks Support Easier Credit Card Cancellation

Banks will look at ways of making it easier for customers to cancel a credit card, after supporting key changes recommended in the Code of Banking Practise review. The review of the Code of Banking Practice made 99 recommendations, including allowing simpler credit card cancellation, and prohibiting banks from offering higher credit limits on cards unless requested by the customer. Diane Tate, Executive Director of Retail Policy at the Australian Bankers Association (ABA), said the banking industry fully supports 61 of the recommendations, and somewhat supports a further 29. “The remaining nine we either need more time to consider, or … Continued

credit cards - March 15

ATM Withdrawals At 15-Year Low – Is A Cashless Society Closer Than You Think?

New Reserve Bank of Australia (RBA) figures show ATM withdrawals have slumped to their lowest level in 15 years. The statistics have hit just as the RBA prepare to introduce its $1 billion New Payments Platform (NPP), which is set to release sometime in 2017. The new system means businesses and consumers will be able to transfer their funds in ‘real-time’ without the usual three-day waiting period. BSB and account numbers will be scrapped in favour of a more unified electronic payment system. Cashless society According to the RBA’s latest payments data, the number of ATM withdrawals in January fell … Continued

credit cards - February 27

Cashless Society: Who Loses Out?

The increasing popularity of cashless payments is seeing several cash-reliant industries lose out, according to new research from ME Bank. ME’s study of 2,000 transaction account holders revealed that 61% of Australians now use less cash than they did 5 years ago. Although cashless, card-based payments are now becoming the norm due to their convenience, there are many Australian workers who are losing out on extra income which often comes exclusively in cash form. Cash in hand is no longer handy Some of the biggest losers of the cashless trend are “cash in hand” service providers such as tradespeople. According … Continued

credit cards - February 22

ING And Macquarie Now Have Apple Pay

ING Direct and Macquarie Bank are the latest banks to bring Apple Pay to their customers, joining 46 other institutions in Australia.

credit cards - January 24

New NAB Rewards Program Gives Customers More Choice

From flights around Australia, to exclusive AFL opportunities – the new NAB Rewards Program gives customers more choice. Credit card reward programs are nothing new, but NAB has broadened its offering by launching a newly revamped loyalty program, NAB Rewards. With three different credit card options – Classic, Platinum, and Business – NAB Rewards allows customers to earn and redeem points on more than 1,500 goods and services. NAB’s rewards credit cards could previously only earn Qantas Points, Velocity Points or flybuys points. NAB Executive General Manager of Consumer Lending, Angus Gilfillan, said the bank was proud to deliver competitive … Continued