Latest Finance News

Consolidate Your Credit Card Debt Through A Personal Loan

Post by Sharat on January 14, 2018 · Under loans · Comment 

So we’re just into the second week of the new year and you are probably still feeling lots of resolve about sticking to your resolutions. You’ve probably been eating salads and heading to the gym as well as dusting off your piggy banks. If one of your new year’s resolutions is to get out from underneath the mountain of debt you have been under, then you should check out the new unsecured loan product being offer by Westpac.

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Rewards Credit Cards Can Be Useful

Post by Sharat on January 7, 2018 · Under credit cards · Comment 

It’s no secret that many credit cards come with a number of perks that make them incredibly useful. Whilst most Australians do own credit cards, many are simply unaware that their cards could actually save them a ton of cash, or they could give them privileged access to a variety of events and offers. If you do have a credit card, you should bear in mind that whilst all the rewards provided can be very useful, you should still compare them to the general value of the card by measuring them against the annual fee and interest rate. Continue reading

Banks Aggressively Cut Interest Rates On Loan Products As Year End Approaches

Post by Sharat on December 28, 2017 · Under loans · Comments Off on Banks Aggressively Cut Interest Rates On Loan Products As Year End Approaches 

So the end of the holiday season is approaching and you want to either go away on holiday or finally finish renovating your kitchen. The good news is that recently many banks have cut interest rates on their personal loan products. As many as nine different banks made cuts to interest rates on car and personal loans last month. St. George paved the way with a huge 200 basis point cut on its fixed rate loan products. Continue reading

Australian Attitudes Towards Spending Over Christmas Have Changed

Post by Sharat on December 21, 2017 · Under News · Comments Off on Australian Attitudes Towards Spending Over Christmas Have Changed 

Christmas is supposed to be the season of giving, but according to the results of a recent survey conducted by ME Bank, most Australians are not actually that enamoured with the idea of purchasing presents for others and seek to manipulate the gift giving process. The survey found that approximately half of all Australians have no problem with obtaining a refund for a gift they have received only to purchase the same item back again when it is on sale and pocket the profit! Continue reading

Interest-Only-Borrowers Could Be In For A Hard Time

Post by Sharat on December 14, 2017 · Under loans · Comments Off on Interest-Only-Borrowers Could Be In For A Hard Time 

If you are interest-only-borrower, then you have had a difficult year. Not only has APRA cracked down on these kinds of loans but according to the latest research from Morgan Stanley, interest-only-borrowers are more likely to make poor financial decisions and pose a risk to their lenders. The research suggests that interest-only-borrowers have a higher chance of descending into debt and losing their savings if a high cost emerges. They are also likely to sell their property if interest rates rise which means they carry a high financial risk. Continue reading

Five Credit Card Mistakes To Avoid Over The Holidays

Post by Sharat on December 7, 2017 · Under credit cards · Comments Off on Five Credit Card Mistakes To Avoid Over The Holidays 

Its officially Christmas season already with the holiday less than a month away. For Australians this means using their credit cards to help pay for the costs of the holiday season. Irrespective of whether you intend to use your credit card to purchase gifts, enjoy a night out on the town or buy tickets for an amazing New Year’s Eve party you should be smart about using your card. Here are the biggest mistakes people make using their credit cards at this time of year and the best ways to avoid them whilst still having fun. Continue reading

Westpac And NAB Increase Credit Card Late Payment Fees

Post by Sharat on November 28, 2017 · Under credit cards · Comments Off on Westpac And NAB Increase Credit Card Late Payment Fees 

According to a recent review conducted by Banking Day, Australians who hold credit cards issued by Westpac or NAB may have noticed there has been a bump in late payment fees over the last year. The review found that late payment fees levied by NAB and Westpac on holders of their credit cards are now 65% higher than fees levied on most low rate and loyalty cards. Both lenders have increased their late payment fees from $9 to $15. Continue reading

Australian Central Bank Likely To Raise Interest Rates In The New Year

Post by Sharat on November 21, 2017 · Under News · Comments Off on Australian Central Bank Likely To Raise Interest Rates In The New Year 

Recently the Bank of England chose to raise interest rates for the first time in a decade and experts believe that Australia could respond with its own hike in interest rates. This is because one of the things the Australian central bank looks at when deciding upon interest rates, is the rates that exist in similar countries such as the UK and US. This is because the interest rates of those countries impact just how much money flows into Australia. Continue reading

Westpac Bins American Express Companion Card Program

Post by Sharat on November 14, 2017 · Under credit cards · Comments Off on Westpac Bins American Express Companion Card Program 

Westpac has announced that it will no longer offer American Express companion credit cards becoming the third major lender to do so. Westpac said the decision was the result of changes made to regulations by the central bank. The lender also recently said it had undertaken a review of its rewards cards and had made some minor changes to points earn rates and caps placed on some cards.  Continue reading

Westpac Banking And Insurance Customers Entitled To Refunds

Post by Sharat on November 7, 2017 · Under banking · Comments Off on Westpac Banking And Insurance Customers Entitled To Refunds 

Westpac has announced that as many as 200,000 of its insurance and banking customers may be entitled to receive a part of a $65 million package of refunds after it was revealed that the lender failed to properly apply discounts to specific package deals. Westpac admitted it made an error which is likely to affect customers who hold Premier Advantage Packages. St George and the Bank of Melbourne customers who have held Advantage Packages since 2010 will also be entitled to receive refunds. Continue reading