How to earn QFF points quickly

If you’ve recently got a Qantas Frequent Flyer credit card then you’re probably wondering what the best ways to earn frequent flyer points are. The [...]

POSTED ON September 30, 2019
Four ways to save thousands off your mortgage

RAMS Chief Executive, Melos Sulicich said many home buyers believe paying off the mortgage sooner rather than later is an unrealistic goal. RAMS recommends considering [...]

POSTED ON September 7, 2012
Pay cards & loans first then mortgage

Senior financial adviser Sarah Riegelhuth, of financial advisory firm Wealth Enhancers says the sooner you can start paying extra on your mortgage the better. “The [...]

POSTED ON September 6, 2012
Loan calculators are worth a play

Financial journalist and author of Smarter Property Investment, Peter Cerexhe, says home owners should play with some numbers on online mortgage calculators like those at [...]

POSTED ON September 6, 2012
Median mortgage repayments take 31.9% of income

The average monthly loan repayment is now $2,155 compared to $2,290 in the June Quarter 2011 according to the Adelaide Bank/REIA Housing Affordability Report. Median [...]

POSTED ON September 5, 2012
CommBank still the mortgage leader

Banks increased their mortgage market share by 1.1 per cent in June according to the latest Australian Mortgage Market Wrap by RFi. The banks’ share [...]

POSTED ON September 5, 2012
Great time to switch transaction accounts

Twenty nine per cent of transaction accounts don't pay interest on balances below $1000. Even at $5000 some 15 per cent of accounts still don't [...]

POSTED ON September 4, 2012
Average term deposit rate is now 3.75%

Depositors have been cushioned from falling interest rates by stiff competition for retail deposits but rates are still coming down. According to the Reserve Bank, [...]

POSTED ON September 4, 2012
ATM fee message frightens users

Withdrawals from ATM machines not owned by the customer’s own bank have plummeted from around half of all ATM withdrawals to just 40 per cent [...]

POSTED ON August 31, 2012
Now is perfect time to lock in a fixed rate

Now is the perfect time for borrowers to lock in a competitive fixed rate, several mortgage experts claim. 46 lenders have slashed the interest on [...]

POSTED ON August 29, 2012
NAB proud of the break up campaign

When National Australia Bank's chief executive Cameron Clyne, took the job in January 2009, the bank's customer satisfaction rating was the lowest of the big [...]

POSTED ON August 28, 2012
RBA rates likely to stay put for rest of year

The Reserve Bank’s official cash rate is likely to stay on hold for the foreseeable future, according to leading industry stakeholders. AMP’s chief economist Shane [...]

POSTED ON August 27, 2012
Banking competition still constrained

A report from Moody’s found while Australia’s mutuals possess strong balance sheets, competition is constrained and the major banks are benefiting from increasing market power. [...]

POSTED ON August 22, 2012
Our banks too big for our own good

Research by the Bank for International Settlements suggests the dominance of Australia's finance industry - one of the largest in the world relative to the [...]

POSTED ON August 20, 2012
Credit card rates dip under 10%

If your credit card interest rate is more than 20 per cent, it is more than twice what it needs to be. The lowest credit [...]

POSTED ON August 14, 2012
NAB leads the pack on credit card reforms

Mike Shurlin, NAB’s General Manager Cards and Personal Loans said the bank’s credit card reforms have saved its customers over $160 million overall. “We've led [...]

POSTED ON August 13, 2012
The best low rate credit cards are…

The five lowest credit card rates in Australia are all from credit unions according to data supplied by financial comparison service InfoChoice. The Community First [...]

POSTED ON August 13, 2012
New credit card statements arrive

Credit card holders are now getting their first monthly card statements since major law changes that came into force in July. They now include personalised [...]

POSTED ON August 13, 2012
Aussies turn away from ATM fees

Reserve Bank research on ATM network reform shows that transactions at foreign ATMs (machines not owned by the cardholder’s bank) accounted for almost half of [...]

POSTED ON August 10, 2012
No more rate cuts for at least two months

The RBA will keep interest rates on hold for at least another two months, analysts believe, after keeping the official cash rate on hold at [...]

POSTED ON August 8, 2012
Big differences on term deposit rates

Term deposits are a secure investment with minimal risk to investors because the interest rate is fixed and the government guarantees the deposit up to [...]

POSTED ON August 7, 2012
Reforms make credit cards better

Credit card fact sheets must now be provided for each new credit card sold, which display key pieces of information in a standardised format. This [...]

POSTED ON August 6, 2012
Citibank slashes 1 yr fixed rate to 5.69%

Citibank will offer a new one-year fixed rate home loan of 5.69 per cent - down from 5.79 per cent. Citibank’s Head of Mortgages Strategy, [...]

POSTED ON August 3, 2012
ME Bank removes fees for transaction banking

ME Bank announced improvements to its EveryDay Transaction Account, with changes effective 1 August 2012. The $5 monthly account-keeping fee has been removed and there [...]

POSTED ON August 2, 2012
Aussies still losing on bank penalty fees

It was revealed recently that in 2008 banks slugged us with $1.2 billion in penalty charges. So-called exception fees - think going overdrawn or bouncing [...]

POSTED ON August 1, 2012
Which account is right for the kids?

Opening a savings account for your child provides practical experience in saving. Primary age children are unlikely to need a transaction account, so look for [...]

POSTED ON July 31, 2012
Now is the time to take action on term deposits

The time has come for all self-managed superannuation funds and larger private investors to stand up for themselves and negotiate much more vigorously with banks [...]

POSTED ON July 30, 2012
Homebuyers are looking for alternative lenders

Research from RAMS reveals alternative lenders are on the shopping list for home buyers seeking a better deal. The RAMS First Home Buyers’ Pulse Check [...]

POSTED ON July 26, 2012
Average first home loan is $283K

The average loan for a first-home buyer is $283,400, according to the latest Australian Bureau of Statistics figures. To qualify for a mortgage with a [...]

POSTED ON July 25, 2012
Great time to check out mutual banks

One of the key concerns many people have when it comes to smaller financial institutions is the safety of their money. Mutual Banks, credit unions [...]

POSTED ON July 24, 2012
ANZ Rewards Platinum giving away 40,000 points

ANZ Rewards Platinum Visa card is currently giving away 40,000 bonus rewards points to approved applicants who apply by the 31 August 2012. Your application [...]

POSTED ON July 23, 2012
Aussies rushing to get best deal on savings

Household deposits totalled $693 billion at the end of March, according to data compiled by the Reserve Bank. That's more than triple the $205 billion [...]

POSTED ON July 23, 2012
Ausssies struggle to pay off credit cards

One quarter of Australians struggle with credit card repayments according to the Nielsen Global Survey of Investment Attitudes which recently questioned more than 20,000 online [...]

POSTED ON July 19, 2012
Credit card reforms apply to new cards only

Choice spokesman Matt Levey said that while credit card reforms related only to credit contracts signed after July 1, they could be extended to older [...]

POSTED ON July 19, 2012
Average credit card rates remain at 20%

New laws from July 1 are forcing credit card providers to be more transparent, with the latest Roy Morgan figures showing Australians owe $37.1 billion [...]

POSTED ON July 17, 2012
Average credit card rate is 21.99%

On average, the 15 million cards in the country are being hit with a 21.99 per cent interest fee. In the past 15 years, repayments [...]

POSTED ON July 16, 2012
Borrowers more confident with variable rates

The percentage of new borrowers choosing variable rate home loans rose in June for the third consecutive month as rate cuts hit home, according to [...]

POSTED ON July 16, 2012
NAB ban on over the limit fees popular

NATIONAL Australia Bank is the only big four bank to cut over-the-limit credit card fees for new and existing customers. New regulations, which came into [...]

POSTED ON July 12, 2012
Queenslanders CU giving $500 to switchers

If you are an existing mortgage holder with one of the banks who transfers to Queenslanders Credit Union you can have the usual Establishment Fee [...]

POSTED ON July 11, 2012
Rate cuts deliver $47/month to borrowers

A borrower with the average $300,000 mortgage has an additional $47 a month in their pockets following the recent rate cuts. If they pour the [...]

POSTED ON July 10, 2012
Visa & MasterCard crack down on surcharging

Credit card analysts predict the average surcharge levied on Visa and MasterCard purchases will more than halve when the Reserve Bank moves to stop businesses [...]

POSTED ON July 9, 2012
Have more than one savings account

Financial planner Andrew Hewison suggests that as well as having a transaction account for day-to-day living, you should regularly - and automatically - transfer money [...]

POSTED ON July 5, 2012
Borrowers save with offset and redraw

Anyone with a redraw facility or offset account can, in effect, “save” by putting money on, or alongside, their mortgage. With a redraw facility, the [...]

POSTED ON July 4, 2012
Half have overdrawn their bank account

Household budgets are under increasing pressure and a growing number of people are fighting back by adopting some extreme belt-tightening strategies. A flourishing movement is [...]

POSTED ON July 3, 2012
Account switching reforms come into force

From 1 July 2012, it will be easier for you to move your everyday transaction account from one financial institution to another. Here's how the [...]

POSTED ON June 29, 2012
New credit card reforms come into force

From 1 July 2012 changes to NEW credit card contracts mean: Credit card key fact sheets will provide a standardised layout of key information. You [...]

POSTED ON June 29, 2012
NAB the favourite big bank of customers

The latest Roy Morgan Research consumer banking customer satisfaction survey, released yesterday, shows ANZ’s ratings falling 4.1 percentage points over the three months to May. [...]

POSTED ON June 26, 2012
Credit card reforms come into force next week

Banks are sending out thousands of messages aimed at luring customers into upping their credit limits before laws banning the practice come into effect on [...]

POSTED ON June 26, 2012
Account switching to get easy in 2 weeks

Banks will soon be doing the dirty work for customers wanting to switch transaction accounts, with new reforms set to kick in from July 1. [...]

POSTED ON June 19, 2012
Business customers vote for Westpac & Bendigo

The latest Roy Morgan Research business banking satisfaction survey shows all but a couple of banks suffering a fall in their ratings since the start [...]

POSTED ON June 15, 2012
Banks profit from rate rises and cuts

Banks rush to pass on Reserve Bank interest rate rises, but drag their feet in lowering rates in response to official cuts. In the six [...]

POSTED ON June 14, 2012
RAMS cuts home loan rates and fees

RAMS has reduced fixed interest rates across all fixed rate periods effective Friday 15 June 2012 as follows: 1 year fixed is down 0.56 per [...]

POSTED ON June 14, 2012
New home buyers in NSW get big grants

As widely forecast, the New South Wales Budget, which was handed down yesterday, includes significant changes to the state’s First Home Owner Grant Scheme. From [...]

POSTED ON June 13, 2012
Non-banks winning more mortgage marketshare

The number of people taking out home loans with non-bank lenders is creeping up. Their share of new owner-occupied home loans by value in April [...]

POSTED ON June 12, 2012
NAB, CBA & Westpac trim mortgage rates

National Australia Bank joined Westpac and the Commonwealth Bank in defying the Treasurer and not passing on the full rate cut. NAB remains the lowest [...]

POSTED ON June 12, 2012
CUA launches 1.0% discount home loan

CUA's Rate Breaker package commits to offering interest rates one percentage point lower than the average rate offered by NAB, Commonwealth Bank, Westpac and ANZ. [...]

POSTED ON June 8, 2012
Credit card rates go up but not down

Despite the Reserve Bank cutting the cash rate 1 percentage point since November last year, credit card interest rates remain stubbornly high. The lowest rate [...]

POSTED ON June 7, 2012
BOQ cuts standard variable rate by 0.20%

Bank of Queensland has announced it will reduce its standard variable home loan rate and its variable business loan rates by 20 basis points. BOQ [...]

POSTED ON June 6, 2012
Banks can afford rate cuts says Swan

ANZ will make its rates decision at its monthly mortgage committee meeting on Friday and the other banks are not expected to move before then. [...]

POSTED ON June 6, 2012
Big Four hold back rates decisions

The Reserve bank cut official rates yesterday by 0.25 per cent to 3.5 per cent - their lowest level since the height of the global [...]

POSTED ON June 6, 2012
Banks set to hold on to rate cuts

Banks will again hold back at least part of rate cuts if the Reserve Bank lowers the official cash rate today (Tuesday 5 June), with [...]

POSTED ON June 5, 2012
Banks and credit unions hold on to rate cuts

Financial institutions cut their savings rates harder than their borrowing rates in the month following the Reserve Bank’s 50 basis point reduction in the official [...]

POSTED ON June 4, 2012
BoQ WebSavings has bonus rate of 5.55%

Bank of Queensland WebSavings Account is currently offering a promotional rate of 5.55 per cent p.a. (3.70% p.a. variable + 1.85% p.a. bonus). The rate [...]

POSTED ON June 1, 2012
Subsistence lending on APRA radar

The Australian Prudential Regulation Authority said it was undertaking a review of how bank, building societies and credit unions assess the ability of their customers [...]

POSTED ON August 18, 2006
Aussie ordered to reduce credit card rate

Aussie Group agreed to suspend the introduction of a higher interest rate for cash advances for a number of Aussie MasterCard customers, the Australian Securities [...]

POSTED ON August 14, 2006
Eftpos good enough for Medicare refunds after all

Medicare Australia has had a change of heart over the merits of developing an entirely new payments mechanism to distribute government rebates from medical consultations. [...]

POSTED ON August 14, 2006
Home owners have less equity

Commonwealth Bank offered confirmation, of a sort, that home loan prices are in decline across the board in Australia. The bank published a slide that [...]

POSTED ON August 10, 2006
Amazing interest rates on short-term loans

The tolerance of a certain class of customer in the consumer loan segment, and the related tolerance of a class of investors to fund them [...]

POSTED ON August 4, 2006
Rate rises flowing through

Home loan interest rate rises, and some deposit interest rate rises, where announced by lenders, are consistent with the 0.25 percentage point rise in interest [...]

POSTED ON August 4, 2006
Rates to rise on inflation jump

Interest rates now look set to rise another quarter of a percent this Wednesday after the CPI for the June quarter showed headline inflation running [...]

POSTED ON July 31, 2006
Bill paying service coming soon

New bill paying service Acreis has a dozen billers signed up so far, including Energy Australia, Sydney Water and AAPT. Several dozen councils are also [...]

POSTED ON July 28, 2006
NAB ups security on internet banking

National Australia Bank has introduced a combined daily Internet Banking transfer limit for customers who have not registered for their SMS authentification system of $2,500. [...]

POSTED ON July 24, 2006