Credit card news

Banks big and small have credit cards under 10%

Commonwealth Bank, Westpac and at least 10 other providers are offering credit cards with single-digit interest rates.

New Auswide credit card provides interest rate certainty

Auswide Bank has launched a Visa credit card whose interest rate is tied to the official cash rate, two years after unveiling a similar home loan product.

ACM Group found guilty of misconduct for "widespread" and "systemic" harassment of vulnerable consumers

Debt collectors ACM Group have been found to have been engaged in deceptive and misleading conduct relating to two “vulnerable consumers” in cases brought forward by the ACCC and ASIC. The firm, which used methods of harassment and coercion including multiple telephone calls, false threats and misinformation, have now been put on notice as a direct result of their conduct, which was found to infringe on Australian Consumer Law by the Federal Court.

Three-year minimum expiry proposed for gift cards

Losing money on gift cards with surprise expiry dates or hidden fees may become a thing of the past, with the government considering reforms to national legislation.

Our banks can do better than this: ASIC report highlights the need for greater credit card reform

ASIC’s proposed credit card reforms are another step towards better regulation around credit cards but more work is needed for Australians to step off the credit card debt treadmill.

Big weekends' cause of most lost credit cards

Planning a big one this weekend? You might want to triple check your credit card is still in your wallet, as 8am Monday morning is the most common time for Aussies to report their card as lost or stolen.

What budget? Holiday overspending costing Aussies $4.6 billion

Treating yourself while on holiday may be one of life’s small joys, but breaking the holiday budget is costing Aussies a collective $4.6 billion a year.

Banks ramp up credit card repayment plans

Banks are ramping up credit card repayment plans following the lightening success of Afterpay, with Australia’s biggest bank, Commonwealth also due to launch a repayment offering in coming weeks.

Australian borrowing slows

Australians are making fewer new borrowing commitments, and are more likely to borrow to buy a home or to spend on a credit card, according to the latest lending finance figures from the Australian Bureau of Statistics (ABS).

Average credit card interest rates continue falling

The trend towards low-rate credit cards has made an impact on the Australian marketplace, with the average credit card interest rate on RateCity falling to a new low in April 2018.