Australian credit card types: Balance Transfer

Balance Transfer credit cards Balance transfer credit cards can sometimes be a helpful debt consolidation option. These cards allow you to transfer the existing debt [...]

POSTED ON December 8, 2010
Swan giving banks a run for their money

The Commonwealth Treasurer Wayne Swan has urged home owners to consider switching their home loans from the big banks to credit unions. The Treasurer is [...]

POSTED ON December 7, 2010
Savers can save $330 by switching

Savings account holders can save up to $330 by switching to a better account according to consumer group Choice. Choice's Better Banking campaign director Richard [...]

POSTED ON December 7, 2010
Balance Transfer Credit Card Offers

Save money & reduce debt with Balance transfer offers Cutting back on the interest expense on your current card is the most obvious way you [...]

POSTED ON December 6, 2010
Car Insurance Brokers

Brokers Millions of people who own a car arrange the insurance of their car directly with the insurer. But there are many drivers who choose [...]

POSTED ON December 6, 2010
Cheap Car Insurance

The Price of Car Insurance There are many things to know about car insurance and one of them is price. There is very little use [...]

POSTED ON December 6, 2010
Car Insurance WA

Insurance in Western Australia When an insurer designs their car insurance policies and premiums, they take many things into consideration. The first thing you should [...]

POSTED ON December 6, 2010
Banking reforms to be released this week

The Australian government is likely to release its reform proposals for the banking sector on Wednesday. The proposals are being considered by cabinet today. The [...]

POSTED ON December 6, 2010
Not much action on ATM fees

The Australian Competition and Consumer Commission is expected to be given increased powers to oversee banks by the government’s new banking reform package, and ensure [...]

POSTED ON December 6, 2010
Melbourne auction boom gets bigger

Sydney auction results continued to cool on the weekend, as Christmas approaches. There were 687 properties put up for auction in Sydney on Saturday, down [...]

POSTED ON December 6, 2010
Car Insurance Companies

Car insurance companies work like most other businesses. They offer a service, in this case insurance for your car, and aim to write as many [...]

POSTED ON December 3, 2010
New lobby group wants account number switching

Account switching needs to be easier said a new group established to promote integrity in banking. The Australian Financial Integrity Network (AusFIN) is Choice, the [...]

POSTED ON December 3, 2010
Spring property season in full swing

During the spring selling season, the number of properties advertised for sale has been mounting as sales volumes fall and buyers are spoilt for choice [...]

POSTED ON December 3, 2010
Comprehensive Car Insurance

Car insurance need not be confusing. There are many aspects including the different types of motor insurance but within each type or category, the rules [...]

POSTED ON December 3, 2010
Comprehensive Car Insurance Comparison

Car Insurance When looking to obtain comprehensive car insurance, shopping around is sound advice. This fact is true for a number of reasons as you [...]

POSTED ON December 3, 2010
Australia’s Best Credit Card

Credit cards are a financial staple for a lot of Australians. They allow you to access a limited amount of credit to give you some [...]

POSTED ON December 3, 2010
Travelling Overseas

Cash or Credit The recent strength of the Australian dollar has provided great incentives for Australians to travel abroad. Amongst the difficulties of planning a [...]

POSTED ON December 3, 2010
Rewards Credit Cards

The best rewards credit cards Credit Card Reward Programs 'reward' you for spending by giving you ‘points’ for every dollar spent. Eventually when you accumulate [...]

POSTED ON December 3, 2010
No Annual Fee Credit Card

What are no annual fee credit cards? Despite the title being self explanatory we believe that the concept of these cards are so wonderful, they [...]

POSTED ON December 3, 2010
Choosing a Balance Transfer Card

Costs and benefits of balance transfer credit cards Benefits; major benefit is the interest savings made on transfers due to the very low balance transfer [...]

POSTED ON December 3, 2010
Low Interest Credit Cards

Types of Credit Card interests When you are quoted an annual percentage rate on a credit card it could be referring to one of 3 [...]

POSTED ON December 3, 2010
Balance Transfer Credit Cards

What is a Balance transfer credit card? Balance transfer credit cards are just like normal credit cards but with an attractive added balance transfer option. [...]

POSTED ON December 3, 2010
Credit Card Compare

Credit cards Australia In Australia there are literally hundreds of credit cards available and tens of credit lenders providing them that make the Australian credit [...]

POSTED ON December 3, 2010
No more rate rises predicted until Easter

Some economic analysts are now predicting that the RBA will not raise rates again until March or even April next year. Private sector borrowing is [...]

POSTED ON December 2, 2010
Payments problems persist at NAB

Tuesday afternoon NAB conceded what customers continue to notice, and was reported on talkback radio and social media platforms, which is that some people are [...]

POSTED ON December 2, 2010
No rate rise for term deposits

Term deposit rates offered by the big banks have moved up since the RBA increased the official cash rate on Melbourne Cup Day, November 2. [...]

POSTED ON November 30, 2010
Wayne Swan says – listen to Infochoice

Next month, I'll announce a new package of reforms to further promote competition in the banking sector and build on the action we've already taken. [...]

POSTED ON November 29, 2010
Sydney auctions showing improved results

There were 770 auctions of residential properties held in Sydney on Saturday, up from 628 last week and 486 on the same weekend last year. [...]

POSTED ON November 29, 2010
Switching banks is too hard for most

It is too difficult or costly to change banks for most people to bother, according to Essential Research. Of those surveyed, 37 per cent of [...]

POSTED ON November 26, 2010
NAB says sorry for pay bungle

National Australia Bank will sometime this morning have corrected its mishandled processing of salary, Centrelink and business payments on Wednesday night. Most likely NAB will [...]

POSTED ON November 26, 2010
Greens target banks with new laws

Greens MP Adam Bandt said the cross-bench independents - Andrew Wilkie, Tony Windsor, Rob Oakeshott, Bob Katter and Tony Crook - have agreed to back [...]

POSTED ON November 25, 2010
Aussies holding on to the home longer

Property owners in Australia are holding onto their properties much longer according to research by RP Data. Between the years 2000-2005, the average holding time [...]

POSTED ON November 25, 2010
Credit unions still deciding their rates

Over recent days, Wayne Swan, Australia’s Treasurer has become spokesperson-in-chief for the mutuals, pushing their merit as an option for those seriously cheesed off with [...]

POSTED ON November 23, 2010
Big banks in life insurance rip-off

The big four banks have been caught out charging their customers two to three times the market rate for standard life insurance, which they sell [...]

POSTED ON November 23, 2010
Bumper auction weekend in Melbourne

The Sydney auction market continues to deliver poor clearance rates for relatively high numbers of properties being listed for auction. There were 636 residential property [...]

POSTED ON November 22, 2010
Exit fees cant stop you switching lenders

Mortgage exit fees can only cover the lender’s losses from the borrower leaving the loan early. ASIC advises borrowers that they can get more information [...]

POSTED ON November 19, 2010
RBA expected big bank rate rises

The RBA this week released minutes of the its most recent meeting at which it decided to raise the cash rate by 0.25 of a [...]

POSTED ON November 19, 2010
Our best credit card hints and tips

InfoChoice has compiled a list of what it considers are the best credit card hints and tips to help Australians save money. We have looked [...]

POSTED ON November 19, 2010
Lenders want to keep their exit fees

The pressure to allow banks to retain mortgage exit fees has continued to grow this week. Bendigo and Adelaide Bank Robert Johanson chairman told ABC [...]

POSTED ON November 18, 2010
Look before you leap into refinancing

Mortgage holders should carefully weigh up their options before shifting to a rival lender, says Loan Market Group's chief operating officer Dean Rushton who said [...]

POSTED ON November 17, 2010
Credit unions are strong says report

KPMG's Building Societies and Credit Unions 2010 Survey released today highlights the "strength, resilience and competitiveness" of the mutual banking sector. "The Australian mutual sector [...]

POSTED ON November 17, 2010
Average credit card costs more than rewards

The average credit card holder spends about $1200 per month or about $14,000 per year on their card according to data from the Reserve Bank [...]

POSTED ON November 17, 2010
All four big banks let their customers down

National Australia Bank and Westpac have followed CBA and ANZ and raised their standard variable mortgage rates above and beyond the rate rise imposed by [...]

POSTED ON November 16, 2010
What card will you choose this Christmas?

With Christmas just around the corner, shoppers are expected to spend big on gifts, entertainment, food, drinks and holidays. Typically people spend more on their [...]

POSTED ON November 11, 2010
ANZ scraps mortgage exit fees

ANZ was the first bank to respond yesterday to an announcement by the corporate regulator, ASIC, that will take action against lenders who charge high [...]

POSTED ON November 11, 2010
Exit fee ban will hurt borrowers

Smaller, non-bank lenders, who charge higher exit fees, are more likely to lose out from the government’s move against high mortgage exit fees, potentially robbing [...]

POSTED ON November 11, 2010
Savers missing out on rate rise

Approved deposit-taking institutions’ response so far to last week’s 25 basis point increase in the official cash rate won’t please savers. Only a handful of [...]

POSTED ON November 10, 2010
Delay in moving rates costing banks

The three big banks that have not raised their standard variable interest rates - NAB, ANZ and Westpac are losing three million dollars a day [...]

POSTED ON November 10, 2010
CBA borrowers to lose their homes

Commonwealth Bank chief executive Ralph Norris said his bank's 0.45 per cent interest rate rise will cost some customers their homes. Sir Ralph said it [...]

POSTED ON November 9, 2010
Exit fee ban will force rates up warn banks

Laws to crack down on bank fees would encourage banks to raise their lending rates beyond Reserve Bank moves more often said the Australian Bankers [...]

POSTED ON November 9, 2010
Banks to dump mortgage exit fees

Senior officials at three of the big banks said yesterday that mortgage exit fees, which cost customers upward of $900, could soon be scrapped. One [...]

POSTED ON November 8, 2010
Fix now to beat rate rises

Many people are acting now to lock in low mortgage rates for the one, two, two, three, even five years. Big mortgage broking chain Mortgage [...]

POSTED ON November 8, 2010
High density living gains popularity

Going back fifteen years, the notion that higher density living would become almost as popular as a detached dwelling on its own plot of land [...]

POSTED ON November 5, 2010
Refinancing? cheapest mortgage deals here

NAB says their standard variable can save a borrower with a $300,000 mortgage about $68 per month compared to the most expensive big bank lender, [...]

POSTED ON November 4, 2010
Christmas shopping earns flights at Woolies

The new Woolworths Everyday Rewards Qantas Mastercard credit card is offering a remarkable upfront deal for a card that has a generous points scheme with [...]

POSTED ON November 4, 2010
Better banking campaign launched

Choice today launches its Better Banking campaign. The launch of the Better Banking campaign coincides with fresh research showing that - despite widespread dissatisfaction - [...]

POSTED ON November 4, 2010
Other banks to follow CBA’s lead

Other banks might follow CBA’s lead and raise their standard variable mortgage by more than the RBA’s 0.25 per cent rise of yesterday. Westpac was [...]

POSTED ON November 3, 2010
Demand for fixed rates doubles

New fixed rate home loans more than doubled over October to reach a 27-month high of 7.7 per cent of the total number of new [...]

POSTED ON November 3, 2010
Spring racing affects auction results

Auctions produced reasonable results in Sydney this weekend, but spring racing interfered with results in Melbourne. There were 659 residential properties put up for auction [...]

POSTED ON November 1, 2010
1.6 million Aussies lie to get credit card

Veda Advantage’s latest Australian Debt Study found 1.6 million Australians have misrepresented their financial information when applying for a loan in order to obtain credit. [...]

POSTED ON October 28, 2010
Senate set to investigate banking competition

A new wide-ranging Senate Inquiry into banking competition appears almost certain after independent Senator Nick Xenophon joined forces with the Liberal Party. The plan for [...]

POSTED ON October 28, 2010
Bendigo, BoQ & Suncorp the favourite business bank

Business banking customer satisfaction ratings have leveled out, after falling sharply from late 2008 until the middle of this year. The latest TNS business banking [...]

POSTED ON October 28, 2010
Borrowers will pay for new rules says CBA

Commonwealth Bank chief executive Ralph Norris indicated that Australia would pay for the blunders made by overseas governments, regulators and banks if the rules were [...]

POSTED ON October 27, 2010
Libs want a social compact with banks

Opposition Treasury spokesman Joe Hockey escalated his confrontation with the banking industry earlier this week, by asking whether banks should be re-shaped into lower-risk, lower-growth [...]

POSTED ON October 27, 2010
2010 – the year we paid our card debts

Repaying consumer debts is a definite financial trend of 2010. “People definitely don’t want to go backwards with debt this year,” said Matt Thomas, the [...]

POSTED ON October 26, 2010
First home buyers feel the squeeze

First home buyers may remain a minor segment of the home loan market, given low levels of affordability, research by the National Centre for Social [...]

POSTED ON October 26, 2010
Property investors look overseas

The strong Australian dollar is encouraging Australian investors to purchase properties overseas. Loan Market Group’s chief operating officer Dean Rushton, said the brokerage has received [...]

POSTED ON October 26, 2010
Credit unions want to be ‘banking institutions’

Australia’s credit unions and mutual building societies have called on government to take practical steps to increase competition against the big banks. Too many Australians [...]

POSTED ON October 26, 2010
The big four banks have very few friends

Joe Hockey’s attack on bank margins last week shows that the big four banks are now more politically isolated than at any time in the [...]

POSTED ON October 25, 2010
Massive auction weekend in Melbourne

There were 501 residential properties listed for auction in Sydney on Saturday, with 56 per cent selling on the day, in results that were largely [...]

POSTED ON October 25, 2010
Housing supply crisis getting worse

According to RP Data’s latest research, Australia is currently in the midst of a terrible housing shortage, with Melbourne the worst sufferer. RP Data’s research [...]

POSTED ON October 22, 2010
Abbot says banks bully government

Opposition leader Tony Abbott said that the ‘ineffectual’ Labor government was being “stood over” by the major banks. “We didn't see this kind of behaviour [...]

POSTED ON October 22, 2010
No housing bubble – yet – says RBA

Australia’s housing prices are not yet an asset bubble according to the Reserve bank of Australia’s financial stability chief Luci Ellis who said the RBA [...]

POSTED ON October 21, 2010
First home buyers look for cheaper homes

The latest Bankwest/MFAA Home Finance Index has found that an increasing number of first home buyers are keen to put their first foot on the [...]

POSTED ON October 20, 2010
RBA asks banks – no extra rate rises

Tighter financial conditions are something banks appear to want their customers to experience. Bank executives speaking out recently on the case for margin increases (including [...]

POSTED ON October 20, 2010
Banks too tough on first home buyers

Banks are preventing first home buyers from entering the property market by refusing to recognise rental payments as evidence of genuine savings, says leading mortgage [...]

POSTED ON October 19, 2010
Savings rates come down

Westpac has reduced interest rates on two of its savings products by 100 basis points. St George Bank, ME Bank and Bank of Queensland have [...]

POSTED ON October 19, 2010
Aussies tighten their belts

Half of all Australians have tightened their belts in recent months because they fear the impact of higher interest rates. The Reserve Bank kept official [...]

POSTED ON October 18, 2010
Good auction results in Sydney and Melbourne

There were 517 residential properties listed for auction in Sydney on Saturday with 58 per cent selling on the day. Those results were broadly similar [...]

POSTED ON October 18, 2010
ANZ, NAB can hold out against rate rises

The banks have been expected to use the next rise in official rates to make their big move upward in interest rates above the cash [...]

POSTED ON October 15, 2010
Rents come down

The average national rent fell just 0.3 per cent for houses and 0.5 per cent for units throughout the quarter, according to data from Australian [...]

POSTED ON October 15, 2010
ING Direct mulls over raising rates

CBA and Westpac have signalled that out of cycle rate rises are inevitable as banks deal with higher funding costs. ING DIRECT’s chief financial officer [...]

POSTED ON October 15, 2010
Higher rates biting into family budgets

According to the latest Bankwest/MFAA Home Finance Index, 50 per cent of Australians are forgoing eating out to deal with the burden of higher rates, [...]

POSTED ON October 14, 2010
First home buyers priced out of market

New loans for the construction of housing fell by one per cent in August and loans to buy them fell 2 per cent despite new [...]

POSTED ON October 14, 2010
Big spenders can reap the card rewards

Most credit card holders are not getting value for money from their card’s rewards scheme according to a survey by Citibank. Head of Credit Cards [...]

POSTED ON October 13, 2010
Small lenders slash rates, fees to compete

Provident Capital has slashed 15 basis points from its Premium and Premium-Lite range of home loan products. Another small mortgage lender, Future Financial has also [...]

POSTED ON October 13, 2010
Rates and prices predicted to keep rising

Australian house prices will rise between 9 and 20 per cent in capital cities over the next three years according to new research by BIS [...]

POSTED ON October 13, 2010
First home buyers to be hit by rate rises

First home buyers will be the major casualties if the Reserve Bank of Australia (RBA) or lenders lift interest rates, a national survey has found. [...]

POSTED ON October 13, 2010
Westpac says rates will rise

Westpac managing director Gail Kelly yesterday reiterated that, since funding costs are rising, interest rates paid by borrowers must rise “over time”. Kelly may not [...]

POSTED ON October 12, 2010
Sydney crippled by mortgage repayments

Sydney households are spending three quarters of their average monthly income on mortgage repayments. A survey of global cities found that Sydney residents spend a [...]

POSTED ON October 12, 2010
Weigh up cost-benefit of refinancing

Borrowers who are considering refinancing their home loan need to weigh up the short term and long term costs and benefits. It can take 10 [...]

POSTED ON October 11, 2010