This year has been a profitable one for Australians and their credit card debt. According to latest percentages, Aussies seem to be managing much better with their mortgages; their mortgage repayment appears to be going along much better than when compared with the previous year. Reports from the ABS data showed that their credit card […]
Credit cards are known to be risky business for some people. If you have trouble balancing your budget every month then taking on a credit card or two should be your very last resort. If on the other hand you are able to balance your monthly budget as well as save regularly then you are […]
It is no surprise that Australian consumers between the ages of 34-54 have been cited as the biggest contributor to the near-record Australian national credit card debt. Half of the surveyed group named as Generation X which comprised of 1200 Australians admitted that they made up to three unplanned purchases using their credit cards each […]
Surprisingly, while the national interest rate on cash has gone down in Australia the average interest rate on credit cards has risen. Now is definitely the time for Australians to consolidate their credit card debts. Credit card debt is a $50 billion burden on Australians and around $35 billion of that is getting interest added […]
Australian consumers are now more cautious about their spending. They are now more inclined to increase their savings and clean up their credit card debts. This observation is according to financial experts from Bendigo & Adelaide Bank. They added that local households are now aiming to put their finances in better order due to the uncertainty about global economy especially after recent reports about credit woes in the US.
Australia’s credit card debt is proving to be interesting and conflicting.
Banks are hiking credit card interest rates, forcing many consumers into debt.
Recent research from a National newspaper suggests that at least 5 major credit card providers have increased their interest rates within the past three months. This comes as a rude awakening for many as the Reserve Bank’s recent cash rate cuts of 2% should have seen the interest rates for credit cards drop. […]
Australia’s debt on credit cards has risen to record levels this year. However, the amount of repayments aimed at reducing credit card debt has drastically fallen.
While facing rising unemployment and a looming recession, Australians cut back on their credit card repayments by 7.1% in February. Australian credit card debt grew by 1.7% to a record $45.4 billion, equating to an average debt of $3,149 for every cardholder in the country. […]
The total value of credit card and charge card transactions, including cash advances, rose by 9.6% in March this year. Australians spent $18.78 billion on their credit cards and charge cards in March, up from $17.13 billion the previous month.
In February total credit card and charge card balances outstanding fell by 1% to $44.358 billion, from $44.799 billion. The value of cash advances on credit cards and charge cards increased by 7.4% to $1.034 billion in March, from $963 million in February. The number of credit card and charge card accounts increased by 11,000 in March, while the number of purchases using credit cards rose by 13.3%.
Total credit card and charge card balances outstanding rose by 4.3% over the past 12 months, compared with an average of 12.6% over the preceding five years.
When you are in over your head with credit card debt, relief can seem unreachable. It can feel as though you are working as hard as you can just to make the minimum repayments. If you are serious about getting out of credit card debt, then follow these steps to be on your way to […]
The Banks are getting in on the green act. Be on the look out for the launch of biodegradable credit cards. Virgin Money has announced that they will be launching a credit card that is literally green, both in colour and biodegradable materials.
I’m sure your thinking, if only they made the credit card debt dissolvable too.
There are now new and innovative ways to improve your debt problems. If you are struggling to make your debt repayments, then read on to find out how we can help dissolve credit card debt, along with other debts.
It’s very common for people to save feverishly throughout the year with sights set on Christmas and the holiday shopping season. However, every year as the sales get sweeter and sweeter and people want more – the debt and spending seem to sky rocket at Christmas and then they spend the next few months struggling to repay that debt. Australian credit card data from last Christmas states that Australians spent over $22 billion on Christmas.
The Australian Retailers’ Association expects that this figure will continue to rise each holiday. With this enormous amount being charged to credit cards with high interest rates, the amount of money being thrown away is outrageous.
Have you noticed how almost every commercial establishment is now making irresistible offers just to convince you to spend and it’s usually using your credit card? Credit card firms are also increasing credit card limits for many consumers to encourage spending. The consequence is quite logical. Many consumers across Australia are now caught into a vicious debt trap. Credit card debt problems are now commonly part of household troubles.
Australians spent late 2009 on a credit card bender which has led to a 25% leap in work for debt collectors.
The debt trap is set to worsen, a new credit expectations survey has revealed. The survey has indicated that 4 in 10 Aussies will rely on their credit cards to pay essential bills this quarter.
Consolidating your credit card debt could be one of the smartest decisions you will ever make.
Credit card consolidation is a good way to get on top of your debts and ensure a better credit situation for the future. Consolidation is becoming increasingly popular since the Australian Government introduced Part IX Debt Agreements to assist those […]