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Banking & Investment

Credit card interest rates labelled banks’ ‘dirty little secret’

As official cash rates plummet, hurting older Australians with cash in the bank, credit card rates are a potential trap for all.

Credit Cards

Purchases you shouldn’t make with a credit card

Credit cards are becoming a problem for older Australians. If you want to manage your credit card debt, there are some items you should never buy on credit.

Identity Theft

$478 million stolen from Australians last year

Card-not-present crime hit a new high last year with $478 million stolen from Australians accounts in 1.8 million transactions.

Finance

Key lenders promise to improve credit card practices

Credit card providers have vowed to improve their practices in the wake of a damning report that found more than one in six consumers were struggling with debt.

Credit Cards

Explained ... credit card switcheroos

While there is no limit to the number of times you can relocate your card debt to reduce the interest you pay, there are some pitfalls to watch out for.

News

Why you need to be wary of how you shop this Christmas

With Christmas less than four weeks away, credit card providers have redoubled efforts to get new customers spending up big by extending interest-free periods.

Finance

Explained: How Visa’s tokenisation works

With the rise in ‘convenient’ contactless payments, more consumers are losing control of their accounts, thanks to hackers. To the rescue comes Visa, with a fix to block cyber thieves.

Credit Cards

One in six credit card-holders drowning in debt: ASIC

Australia’s credit card balance is about $45 billion and one in six people are struggling with their debt, according to an ASIC report.

Age Pension

Centrelink Q&A: Security fears after Centrelink scanned bankcards

Ellie is concerned about the security of her credit card after it was copied by Centrelink.

News

CommBank slashes credit card interest by 25 per cent

The Commonwealth Bank of Australia will next year offer a discount credit card, effectively slashing the interest charged by 25 per cent, compared with its next cheapest card.

Credit Cards

Top ways you can avoid paying bank fees

Comparison sites have taken the shovel to dozens of banking products and unearthed some treasures that will help you beat the banks at their fee-gouging ways.

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