Credit card debt the focus for church initiative
Posted on July 27th, 2011
Churches across Australia are preparing for a scheme aimed at tackling the countrys growing personal finance problems.
Concerned by the rise in credit card debt in the post-Christmas period, over 100 member churches of the charity Christians Against Poverty (CAP) are due to deliver the debt prevention course CAP Money in New South Wales, Victoria, South Australia and Queensland from this month, Christian Today Australia reported.
According to the news source, participating churches have been receiving training ahead of the free, three-session course which will aim to help people looking to compare credit cards and other money products “to see their own situation clearly”.
National director Ross Buttenshaw commented: “We see what it is like for people when they hit rock bottom, lose their home and are unable to feed their children.
Tags: Card Debt, Church, Credit Card, Credit Card Debt
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Aussies told to return ‘free money’
Posted on July 22nd, 2011
Aussies who rejoiced at an ATM dispensing “free money” in Sydney have been dealt a blow by the police.
Those who thought their cash worries were over could be tempted to compare credit cards online after being ordered to return any cash.
The Daily Telegraph has reported that after spitting out money, the Commonwealth Bank ATM has been placed under guard.
Furthermore, the police have warned that those who took money from the machine have committed a fraud.
The machines in question were allowing people to withdraw much more money that they actually had in their accounts, which prompted something of a frenzy.
Police have now warned that anyone caught withdrawing more than they owned will be traced and could face up to ten years jail for fraud.
Col Dyson, from the New South Wales fraud squad, told the newspaper:”Its the first Ive heard of something like this happening on such a scale.
“If these people know theyre not entitled to the money then certainly they are committing an offence.”
Tags: Free Money, Money
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Low-limit credit cards ‘can help to avoid overspending’
Posted on July 18th, 2011
Low-limit credit cards may be ideal for those who are looking to reduce their reliance on such products but wish to keep a card with them for emergencies.
This is according to Loren Baxter, writing for Lifehacker, who outlined a number of ways people can avoid overspending on credit.
She advised such individuals to make sure the card “has a low limit of no more than $1,000″ in order to minimise the risk of spending too much.
Those who are also concerned about the rates that apply to their credit card may wish to seek consumer advice on how to switch to a cheaper or more competitive product.
A growing number of Australians may be being more cautious with their credit cards and other financial products, as department store chain David Jones recently expressed its surprise that consumers are not spending more given the countrys relatively solid economy, ABC reports.
Tags: Cards, Credit Cards
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Aussies ‘should pay off credit cards promptly’
Posted on July 18th, 2011
People who plan to compare credit cards and new plastic should ensure they pay off their bills promptly at the end of each month, according to one expert.
Speaking to the Sydney Morning Herald, director of Anise Consulting Heather Smith said this form of payment can be very convenient for Aussies to have in their wallets.
Indeed, she observed that when “times are tough” a credit card can be a valuable tool to aid cash flow.
However, the expert added a word of caution that those going online to compare credit cards may want to heed.
“If you let payments slip, it can be a real effort to get it back to a zero balance,” she asserted.
Aussies were recently warned to be alert to online scams designed to get credit card details and money.
Consumer Watch spokesman Paul Tully cited as an example of this a recent spate of emails offering recipients £2 million ($3.28 million), which were distributed to inboxes across the country and purported to be from British prime minister David Cameron.
Tags: Cards, Credit Cards
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Cash Back Credit Cards: Eat This, Not That Analysis of the Chase Freedom Visa
Posted on July 16th, 2011
After the pronounced period of uncertainty that followed the credit crisis, it is now clear that cash back credit cards have returned in full force. Since the fall of 2010, credit card companies have been ramping up not only the quality and size of bonus incentives, but also, the overall quality of the underlying reward programs. This trend has accelerated in 2011 as credit card companies have upped sign-up incentives to unprecedented levels.
In many ways, today’s cash back credit card offerings are as good, if not better than they were before the credit crisis. Nevertheless, there are vast differences in the terms and conditions of these offers, many of which share the same name and rewards structure.
This article is the first in a series of posts that will adopt the approach to food taken in the popular book Eat This, Not That and apply it to credit cards. T
Tags: Back Credit, Back Credit Cards, Cards, Credit Cards
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Aussies ‘should watch out for hidden fees with travel cards’
Posted on July 14th, 2011
Individuals who visit other countries and use preloaded travel cards have been advised to check the small print and hidden fees before deciding to use their plastic.
According to the Australian Business Traveller, this form of plastic can be useful for purchasing items over the counter as there are often no charges.
However, there are certain costs that might tempt some to compare credit cards online and use this payment method instead.
For example, many banks charge an initial fee for the purchase of the card and it can cost between one and 1.1 per cent when money is loaded onto the plastic.
There is also a standard fee for withdrawing money from cash machines, although this is also true of credit cards.
Last month, the Commonwealth Bank of Australia announced that those using its credit cards might soon be able to deactivate them for use abroad in an effort to reduce the number of people who are the victims of fraud, ZDNet.com reported.
Tags: Cards, Hidden Fees, Travel Cards
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