Trending Financial News 19 December
ANZ promises 5-min credit card applications
ANZ Bank offers some of Australia’s most popular credit cards including the ANZ Rewards Black Card (currently offering 150,000 bonus Rewards Points when you spend $4,000 on eligible purchases within three months).
ANZ Bank promises that an online credit card application can be completed in around 5 minutes.
Bitcoin is crashing
Bitcoin has lost 8 per cent of its value in one week of pre-christmas trading since 11 December, [charts from coinbase.com].
Bitcoin prices are falling hard and have lost $350 in 24 hours. Bitcoin is now trading below A$10,000.
Bitcoin has been in a slide for 6 months but is still over 80 per cent up over 12 months.
Analysts are pointing to christmas cashing out by investors and a sharp drop int eh price of Ethereum as possible causes of the Bitcoin bear market. Read more about the outlook for cryptocurrencies at InfoChoice.
FreedomLend Investment Special is December’s top investor home loan
InfoChoice lists more than 1800 home loan products now available in Australia. Every month, lenders are changing deals.
In the opinion of our experts, FreedomLend’s Investment Special Variable (P&I) 80% LVR home loan is among the lowest rate, lowest cost investor home loans now listed on InfoChoice. Read more about InfoChoice’s five top home loans for property investors in December 2019.
NAB fronts shareholders over fees for no service
National Australia Bank chief executive Ross McEwen told shareholders the bank takes ASIC’s legal action against it very seriously. ASIC alleges that NAB breached corporate law more than 12,000 times and charged customers more than $650 million in total fees for providing no service to them. ASIC says NAB made misleading statements in fee disclosures and contravened its financial services licence.
Mr McEwan told the NAB AGM that the bank would work cooperatively with ASIC.
Fox Symes Home Loans becomes Azora
Debt agreement administration company Fox Symes is partnering with asset finance lender Azora Finance to offer home loans for people with debt issues under the Azora Home Loans brand.
Fox Symes Home Loans (FSHL) will become part of Azora.
Fox Symes executive director, Tim Odillo Maher, said Fox Symes had $382 million in total in mortgages lent to clients.
“Over the last 12 years, we have proven our ability to successfully originate and manage non-conforming home loans,” he told Mortgage Business.
Gift cards must have 3 year expiry
Gift cards are the most popular christmas present of all. For that person who has everything, or nothing, a gift card from their favourite retailer can make gift giving easy.
New laws require gift cards to have a minimum expiry period of three years, no extra fees on purchases and less confusing fine print.
Bunnings Gift Card is reportedly among the most popular gift cards in Australia in 2019.
Top low rate credit card offer in December
InfoChoice’s top low-cost credit card offer, December 2019 is the Virgin Money Low Rate Visa credit card offering an attractive interest rate of 11.99 per cent p.a. and an annual fee of $49. In the opinion of our experts it’s a useful balance transfer card, offering zero per cent for 14 months. You get 55 days interest–free on purchases and a chance to earn up to $100 cashback in the first three months. Read more about December’s best credit card promotional offers at InfoChoice