credit card debt consolidation

Questions You’ve Had about Consolidating Debt But Haven’t Asked

Debt consolidation is regarded with kind eyes by many Aussies and often described as a solution to all of your problems. Just like the name says, debt consolidation refers to putting all of your debts together, in order to keep track of your payments easier.

In addition, this change will save you money and allow you […]

Debt Consolidation Loans: Quick Fix and Permanent Solution

There’s no easy way to overcome bad debts, but if used wisely debt consolidation loans can quickly tackle them head-on, and put your finances back on the right track.

Bad loans interrupt your life and prevent you from reaching your financial goals. They ruin your credit history, decrease your chance of getting favorable loans and may […]

What is the Best Way to Consolidate Debt this 2017?

The best way to consolidate debt depends on your needs and financial situation. Here are ways to consolidate your debt to ease your financial burden and build your credit score.
Types of debt consolidation
There are two ways to consolidate debt; through a debt consolidation loan or debt settlement consolidation.

Debt Consolidation

The first type is a type of […]

Top Questions to Ask Yourself before Consolidating Your Debt

Debt consolidation is the process that gathers the total amount of your outstanding debts into one single loan. As with any other financial procedures, it may or may not work for you. The key is to know what to look at to ensure that you’ve made the right choice for your personal background. If you’re […]

By |March 2nd, 2017|Categories: Debt Consolidation|Tags: , , , , , , , , , , , |Comments Off on Top Questions to Ask Yourself before Consolidating Your Debt

Credit Card Debt Growing in Australians Aged Between 34 – 54

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 […]

By |May 15th, 2015|Categories: Credit Card Consolidation, Debt Consolidation|Tags: , , |Comments Off on Credit Card Debt Growing in Australians Aged Between 34 – 54

Government Survey Gives Insight into Australian Debt

It seems Australians are not entirely money-conscious when it comes to entering into debt, as a recent Federal Government report has found.
The latest survey conducted by the Financial Literacy Foundation has divulged details about the general attitudes towards credit and debts amongst the Australian population.

The nationwide survey found, 21% of respondents will get into debt by buying things they cannot afford, and 17% pay only the minimum amount owing on their loans. […]

By |May 24th, 2011|Categories: Debt Management|Tags: , , , , |Comments Off on Government Survey Gives Insight into Australian Debt

Credit Card Debt on the Rise

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. […]

By |May 24th, 2011|Categories: Credit Card Consolidation|Tags: , , |Comments Off on Credit Card Debt on the Rise

Australian Credit Card Debt has Risen

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. […]

By |May 23rd, 2011|Categories: Credit Card Consolidation|Tags: , , , , , |Comments Off on Australian Credit Card Debt has Risen

Australian Credit Card Figures Increasing Higher Than Ever

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.

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By |May 23rd, 2011|Categories: Credit Card Consolidation|Tags: , , , , , |Comments Off on Australian Credit Card Figures Increasing Higher Than Ever

Australia is a Cash Based Society

The Reserve Bank of Australia has conducted a recent study that indicates that Australia is still a cash based society. However it is not to be overlooked that the use of credit cards continues to rise.
The RBA study of consumer payment behaviour found that cash accounts for 70% of all transactions. EFTPOS, MasterCard, and Visa Debit Card payments make up 15% of all transactions followed by MasterCard and Visa Credit Card transactions at 9%. Only holding 1% of total transactions is American Express and Diners Club cards.

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By |May 23rd, 2011|Categories: Debt Management|Tags: , , , , |Comments Off on Australia is a Cash Based Society