Latest Finance News

Common Balance Transfer Pitfalls

Post by Sharat on April 7, 2018 · Under credit cards · Comments Off on Common Balance Transfer Pitfalls 

Balance transfer cards are useful because they allow credit card borrowers to consolidate their debt onto a single card that usually has a long interest free period. This means the borrower is able to pay off their debt without incurring additional interest rate charges. This does sound too good to be true doesn’t it? Well to some extent it is, there is a catch, lenders are increasingly tacking on fees to transfer a balance, which is usually some fraction of the balance being transferred. Continue reading

Younger Australian Travellers Skipping Out On Travel Insurance

Post by Sharat on March 28, 2018 · Under insurance · Comments Off on Younger Australian Travellers Skipping Out On Travel Insurance 

We’ve all heard terms such as millennial’s, you may have even come across a HENRY, though we still don’t entirely know what that means. The latest research however has revealed a new class of younger Australians that have cash to spend and love to travel that are being referred to as flashpackers. According to the study gone are the days when young Aussies would strap on their backpacks to head overseas on the smell of an oily rag. Continue reading

Personal Loan Discount Season Is Over

Post by Sharat on March 21, 2018 · Under loans · Comments Off on Personal Loan Discount Season Is Over 

Summer is officially over and Aussies have already started to notice the temperature dropping and that change is in the air. Unfortunately, the same cannot be said about personal loan discounts. If you don’t know what they are, personal loan discounts were deals offered by lenders at the start of February which have now come to an end. Not surprisingly many potential borrowers are wondering whether there is any value to be had in taking out a personal loan. Continue reading

Mobile Apps Are The Future Of Banking

Post by Sharat on March 14, 2018 · Under banking · Comments Off on Mobile Apps Are The Future Of Banking 

Across the world people are taking to mobile banking in droves and Australia is no different. A rising number of Aussies are using mobile banking apps to manage their money and if you happen to be one of them, then it appears that you are much more likely to recommend your bank to friends and family. According to a recent survey undertaken by Roy Morgan, more than two-thirds of people polled said they would probably recommend a bank after using its mobile app. This is way more than people who visit branches or bank by phone. Continue reading

Australia Passes New Credit Card Regulations

Post by Sharat on March 7, 2018 · Under credit cards · Comments Off on Australia Passes New Credit Card Regulations 

Recently the Australian parliament passed laws designed to improve consumer protection as the government seeks to mitigate against rising national credit card debt. The Federal parliament effectively banned credit card issuers and banks from making unsolicited credit limit increase offers to their customers. From January next year lenders will also be required to allow their customers to make changes to their credit limits or cancel their credit cards online. Continue reading

Australians Should Not Use Credit Cards To Buy Cryptocurrencies

Post by Sharat on February 28, 2018 · Under credit cards · Comments Off on Australians Should Not Use Credit Cards To Buy Cryptocurrencies 

Towards the end of last year, the only thing everyone could talk about was Bitcoin which is unsurprising given the fact that in 2017 the value of Bitcoin rose from US$1,000 to just shy of $20,000. This means if you were lucky enough to have bought at the start of last year and sold at the high, you would have made a 1,900% return on your investment. Since Christmas much of the air has been let out of the price of Bitcoin but cryptocurrencies remain a hot topic amongst Australians throughout the country. Continue reading

Peer To Peer Lending Increasingly Popular In Australia

Post by Sharat on February 21, 2018 · Under loans · Comments Off on Peer To Peer Lending Increasingly Popular In Australia 

Australian investors and borrowers are increasingly adopting peer to peer lending platforms according to the results of survey undertaken by ASIC. The results of the survey suggest that as much as $300 million of personal and business loans were underwritten by peer to peer lenders over the course of the last fiscal year. That represents a doubling in the amount that was lent on such platforms during the 2015/2016 financial year. Continue reading

Australian Commuters Will Soon Be Able To Use Alternative Payments For Public Transport

Post by Sharat on February 14, 2018 · Under News · Comments Off on Australian Commuters Will Soon Be Able To Use Alternative Payments For Public Transport 

As contactless credit card payments are increasingly becoming popular, many Sydney commuters may see the demise of the Opal card much sooner than they think. According to New South Wales Transport Minister Andrew Constance, alternative payment methods may well be on their way to become mainstream on public transport. Mr Constance made his remarks following the success of a trial where commuters were permitted to use their MasterCard to “tap on” the Manly ferry. Continue reading

Australian Credit Card Borrowers Becoming More Financially Savvy

Post by Sharat on February 7, 2018 · Under credit cards · Comments Off on Australian Credit Card Borrowers Becoming More Financially Savvy 

According to the latest data from the Australian Banking Association, there has been a reduction in Australian consumer credit card debt representing the third time this has happened in the history of the country. Despite the debt reduction, the total amount of outstanding consumer credit card debt is a staggering $52.2 billion. Tony Pearson Chief Economist for the ABA says that credit card holders are becoming more financially aware and are making sure they pay down debt and keeping their interest rate expenses low. Continue reading

Australia Leads The Way When It Comes To Digital Banking

Post by Sharat on January 21, 2018 · Under banking · Comments Off on Australia Leads The Way When It Comes To Digital Banking 

When it comes to cashless banking in Australia, Sydney and Canberra lead the way according to a report by card company Visa. The report recognises both cities as being digital leaders in large part as a result of Australia’s advanced digital banking payments system. Aussies are already very accustomed to online banking and there are a large number that make use of the system. Continue reading