Laine Gordon

Gift cards: The Christmas naughty and nice list

RateCity.com.au has released its annual ‘naughty and nice’ gift card list, as Australians rush to find the perfect last-minute present this Christmas.

Credit card debt drops below $20 billion

New RBA figures out today show Australians have slashed the national credit card bill to $19.71 billion in October – the first time debt accruing interest has dropped below $20 billion in almost 16 years.

Beware of the debt hangover this Black Friday

Australians are set to log on in record numbers to the Black Friday and Cyber Monday sales. But while retailers are promising customers big savings, RateCity.com.au is warning shoppers not to get carried away.

Credit card debt hits lowest level since 2004

Australians have wiped a total of $6.3 billion of debt accruing interest from their credit cards since COVID, according to new RBA figures released today.

Banks extend mortgage deferrals, but what’s the cost?

Australian banks have today announced that they will allow mortgage holders in severe financial hardship to extend their mortgage repayment pause by up to four months.

Australians wipe a record $1.64 billion off credit card debts in May

New figures released today from the RBA show Australians wiped $1.64 billion off credit card debt accruing interest in May, the biggest monthly drop on record.

Bank fees fall, but Australians still fork out $3.92 billion

Australians forked out $3.92 billion in bank fees last year, new figures from the RBA show. This equates to around $406 per household in bank fees a year.

Aussies hunker down on debt in lockdown

Australians wiped a record $1.55 billion off debt accruing interest on their credit cards – the highest drop on record.

Credit cards still on the nose, however people with cards start reaching for them more

New figures out today from the RBA show the number of personal credit card accounts has dropped to the lowest point in almost a decade.

The real cost of a repayment pause, and how to minimise the fallout

CBA’s announcement today that customers who take a six-month repayment pause will be refunded interest-on-interest charges during this time will help families struggling to make ends meet.