Australian Credit Card Debt

Across Australia it appears that the major reason why credit card debt does not appear to be waning to is that many consumers are only making their minimum payments each month. Read the rest of this entry »

‘Play With the Figures’ Featured Card: ANZ First Visa

It can be difficult to tell exactly how a particular credit card will benefit you, when everybody’s financial situation is so different. Today we launch a series of posts looking at exactly what will happen to your credit card debt and your general budget with a specific card. Our first is the ANZ First Visa credit card – keep reading to find out what happens when we ‘play with the figures’. Read the rest of this entry »

4 Ways to Overcome Credit Card Psychology

When all you have to do is type a couple of numbers into a PIN-pad, and the helpful store clerk will let you have anything you like, it is very tempting to overspend on credit cards! That little piece of plastic just sits in your wallet, alongside your license. You don’t always directly work for it … so it’s very easy to see credit cards as free money, and difficult to stick to a budget on them. Even if your low rate credit card only charges you 10% per annum on purchases, that still makes every $100 purchase cost you $110 over a year. That’s the psychology of the credit card … so what are some practical ways to overcome it, have your credit-cake and eat it too?

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The Battle Between EFTPOS and Debit/Credit Cards!

Several years ago, the Visa debit card was little more than a novelty. Credit was freely available, and if people wanted to buy off the internet, they would just get a credit card or use Paypal. In the last few years, though, with some crucial changes to the debit-credit card system and a push by banks to get customers onto them (because they represent increased profits for the banks), they are more common than ever. So whose side should you pick in the battle between EFTPOS and debit/credit cards?

EFTPOS and Debit-credit cards go to war!

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Should I Use My Tax refund to Pay Off a Credit Card Debt?

If you have read enough overly simplistic newspaper and magazine articles on this subject, you will certainly know at least one of the answers to this question already! The standard answer is, of course, that you should put any spare cash on your credit card, always keep them for emergencies only, and pay everything off in full before the end of your interest-free period.

However! Read the rest of this entry »