August 11th, 2009
Congratulations to Denny Prussian of N.S.W for winning the Credit Card City, love or hate your credit card contest. Denny Prussian wins $1000 from Credit Card City for his entry below. There were many outstanding entries to this contest and it was tough to pick a winner, thanks to all for their submissions.
Winning Entry
Once upon a time, an evil fog of noise and disharmony enveloped the western world. The airwaves were filled with screams and groans, lyrics with lust and hate and performers slumped like drunken corpses over their mic stands and instruments. Tattoos replaced talent, cynicism replaced song. But suddenly, a sound echoed from the south and began to take shape. Suddenly, in the overgrown, vacant wasteland of toxic tunes, a Crowded House appeared, glowing warm with bright illumination, pulsing with life-giving music and joy-filled musicians and its melodic manifestations melted the mutant miasma. The Crowded House grew until it covered the musical landscape of the western world. Other musical builders were inspired by its magnificent design and new houses were built, each adding sweet melody and glorious sound to the landscape. The Crowded House saved music, saved song and saved the western world and we all listened happily ever after. Thanks to my Credit Card (which I love) I bought tickets to this incredible show.
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July 21st, 2009
Credit crisis (latest talk around the world) also known as credit crunch, deals with the difficulties involved in getting loan or borrowing money. There is a shortage of money for the people to buy things with their loans. There are many reasons that the credit crisis occurred, such as:
- An increase in the requirement of central bank reserve.
- An unexpected decrease in the collateral value used by the banks.
- The lending policies of the United States financial institutions.
The steps to be followed when a credit crisis occurs are discussed below.
- First, don’t get panicked. It will not help you to think on how to survive in the times of a credit crisis. There is always a fluctuation in the economy level.
- Limit your expenses and spend in a reasonable way.
- Make up a budget plan referring the books available that can help you to create a good budget, seek guidance from a financial professional.
- Start paying your debts regularly and don’t allow them to exceed to a higher level.
- Be careful when borrowing more money, do not get caught in the debt trap.
During the credit crisis, when applying for a loan or credit card it is best to shop around and compare credit offers on the market. The large banks and financial institutions are competing for your business and are offering some of the best credit deals seen in years. Be sure that if you have the capability to borrow money, that you take advantage of these special finance deals and get the best possible rate for you.
Thus, it is in your hands to face the credit crisis wisely and plan a proper budget so that you can live happily as well as satisfy your family members with what you earn.
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July 14th, 2009
There has been much talk about the recent credit crisis in the Australian media, especially with job losses and rate cuts to stimulate the economy. However, how is the credit crisis affecting the average Australian? Are you one of those unlucky individuals that has lost their job? The untold stories of the average family person, who have felt the fury of the credit crisis needs to be told.
There have been many industries within Australia that have been touched by the credit crisis, mainly mining, manufacturing and sales. One in particular that is of interest is the mining industry, one such example is seen with BP’s nickel mining site in Ravenshorpe, Western Australia. At the height of the West Australian mining boom, the industry was employing many Australians with wages starting at $100,000 per anum. The mining boom was partly responsible for the large increase in the West Australian and Australian economies, in particular housing prices in West Australia, sky rocketing to levels exceeding the traditionally high Sydney property markets. Average W.A families were using their extra income to purchase investment properties, forcing W.A housing and rental prices to go through the roof.
With the closure of mining sites, like Ravenshorpe, this has seen many families loose their expectionally high incomes and forced them to try and find jobs in Perth at a lower pay rate. There have been many examples of Perth families owing on 2 or 3 mortgages who can not pay them any more, forcing them to try and sell their properties in a market where no one wants to buy. Many W.A families have been dealt a blow with the credit crisis, like most everywhere else in Australia.
Have you experienced the same type of story as the Ravenshorpe case? There are many untold stories in Australia of hardship due to companies closing down. What effect has this had on the average Ausrtralian family and how are they coping with day to day life? Only time will tell how many Australian families have truly been affected by this crisis.
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July 11th, 2009
With the increase in the number of credit card debts, the credit card consolidation companies have also gained increased importance. This is true not only for a credit card debt consolidation company but for several other companies offering debt help in different forms. It may be debt settlement or debt management etc.
Why do you need a credit card debt consolidation company?
It is a well known fact that if your debts are astronomical, it is beyond your capacity to wrap them up. This is because debts can be managed on your own up to a certain limit, after which you lose your sense of reasoning and fall into a debt trap. Whenever you encounter a trying situation, there are very few who can keep their cool and find out a solution. To add to your woes, you will have friends suggesting you various debt relief options that are bound to confuse you even further.
So, under such circumstances, it is best to take help of a professional who has studied the market well and knows the trick of the trade.
How does a credit card debt consolidation company help you?
When you have decided to consolidate your credit card debts, hire the services of a reputed credit card debt consolidation company. As far as the credibility of the debt consolidation company is concerned, you can check its track record from the Better Business Bureau.
The credit card debt consolidation company you hire will talk to your creditors on your behalf. Debt consolidation will help you by reducing interest rates and lowering your monthly payments. You will also get a repayment plan so that is worked out keeping in mind your convenience in making payments. The negotiation is usually done by the credit card debt consolidation company you hire.
These companies will charge fees for offering their services. They are referred to as for-profit debt consolidation companies. You will also come across few other debt consolidation companies that are referred to as non-profit debt consolidation companies. The non-profit debt consolidation companies operate with funds received as donation. And they either charge no fee or take nominal fee from you.
Description: A credit card debt consolidation company will help you to get out of debt by negotiating with your creditors. You get to enjoy reduced interest rate and lower monthly payments.
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July 2nd, 2009
ANZ, one of the growing bank in Australia, offers the ANZ Balance Visa Credit Card, which offers you rewards for making timely repayments on your credit card. Thus you enjoy a double benefit on this card. You make repayments on time and save on the interest cost, and while doing so, you earn reward points. Let’s take a Review of ANZ Balance Visa Credit Card:
- Interest free credit on purchases for up to 55 days.
- 0% interest on balance transfers for 6 months. The request for the balance transfer has to be made at the time of application. You cannot transfer balance from an existing ANZ credit card.
- Every $1 repayment made earns you a 1 reward point. You get reward points even when you make balance transfers or pay annual fees or interest payments. There is no time limit for the reward points, so you can keep on accumulating them and use it at your convenient time. This reward points can be used at a number of shopping outlets.
- You enjoy a credit limit of $15000
- Application forms are available online. You can expect a reply within a minute.
- The ANZ Balance Visa Card is widely accepted all over the world.
- You can have access to your account 24/7 through internet and phone banking
- The transactions made online by you are secured and you are not liable to pay for any unauthorized purchases.
The annual fee for the ANZ balance visa card is $57. In addition to this, you pay $22 for a reward program fee.This card will be useful if you have a good credit habit and make all your repayments in time. For people who keep their finances under control, ANZ Balance Visa Card is worth a deal.
Want to learn more about the ANZ Balance Visa?
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June 18th, 2009
The era of prepaid cards in Australia began about 3 years ago. Prepaid credit cards are a viable and hassle free option to cash and checks. It offers a number of advantages. Safe & Secure: You don’t have to carry huge amount of cash while going for shopping or while traveling from one place to another. You need not worry about theft or money being misplaced, since you are only carrying a card. It is secured in a way that nobody else can use your card, unless they know your pin number. Convenient: Prepaid credit cards are widely used. All the stores, fuel stations, shopping malls except pre paid credit card. You need not visit an ATM to go shopping or for refilling fuel. If you choose an option of phone banking and internet banking, the payments like telephone bills, insurance premiums, electricity bills etc can be paid on phone, or you can pay them online.
Some other great features of prepaid credit cards include:
- Some cards also offer the option of money withdrawal at the ATMs.
- Gives protection from theft or unauthorized use.
- You can replace your prepaid card in case it is misplaced or stolen. Your interest is safeguarded similar to any other credit card.
- Cost Control
- You can spend money only if you have it in your account, unlike credit cards. You can keep a track of your spending.
- These cards are particularly useful for students, as they can control their expenses.
There is a huge market for prepaid cards in Australia. Australians are quite smart in money matters, and prepaid credit card is an answer to cost cutting technique. Prepaid credit card offer the advantages of a normal credit card, and at the same time, keeps your spending in check, as you can spend only what you have. This curtails the mindless spending habits, which can prove very costly, when you end up paying huge amounts by way of interest.
Want to compare some of the best prepaid credit card offers in Australia?
Posted in Prepaid Credit Cards | 1 Comment »
June 18th, 2009
Balance transfer credit card means that you repay one card’s debt with another card. To put it more simply, if you have a debt of $1000/- on card A, and the interest rate is 18%, you opt for card B and get the $1000/- debt transferred to card B, which is charging you a lower rate of interest. By doing so, you save the money on interest. In Australia, a number of balance transfer offers are available for 6 months, 12 months, and permanent ‘for life’.
You are allowed to transfer your old debt at a lower interest. You have to choose the duration in which you will repay the debt. The lower rate will be applicable only till the stipulated time. Make sure that you repay your old debt in the stipulated time; else you will end up paying higher interest.
The golden rules to be remembered with Balance Transfer credit cards are:
- Repay the debt as early as possible. In case you are unable to pay one installment, the bank may change the lower interest rate to the normal rate and you will have to pay more interest.
- Never use the balance transfer card for purchasing or withdrawing money. Although the balance transfer card allows you to repay the old debt at a lower interest, a higher rate may be applicable for the new debt. When you repay, all the money will go towards cheaper debt, and the new debt with higher interest keeps on accumulating. Ultimately, instead of saving money on interest, you end up paying more. In case, you need a card for shopping, opt for a new card which charges you a lower rate of interest.
In Australia, the balance transfer cards do not attract any transfer fee, unless specified other wise. Thus, if care and caution is used in dealing with the Balance Transfer Credit Card, you will be able to save considerable money in interest.
Want to compare some of the best balance transfer credit cards in Australia?
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June 12th, 2009
Australia has over 100,000 e-commerce trading transactions going on every day. The importance of securing your credit card could not be emphasized more, given the fact that the majority of the e-commerce transactions are done through credit cards. Figures from the Australian Payments Clearing Association (APCA) show the credit card fraud rate was 45 cents per $1,000 in 2007, but in 2008 it had climbed to 53 cents. Some precautions could be taken to prevent Credit card fraud.
One suggestion would be to sign the credit cards as soon as you get hold of it. One must take care to keep an eye on the credit at all times during a transaction with a vendor, to avoid being a victim of credit card skimming. It is also important to make the incorrect receipts void and also to shred duplicate copies of actual transaction receipts. Equal amount of importance should be given to securing the original copies of the credit card transaction receipts, facilitating comparison of billing statements with receipts. Any suspicious or unexpected charges in the billing statement should be reported to the credit card company as soon as possible.
It is important to check the security certificates of websites before proceeding to give out credit card details. Further it is always a good practice to apprise the credit card companies about any change of billing address in order to avoid the bills getting into wrong hands. If one suspects of being a victim of the credit card fraud it is prudent to file an official complaint with the police immediately.
Some of the don’ts of the credit card usage include sharing the card with friends and relations, giving out the credit card number over the phone, writing the credit card number absent mindedly in scrap sheets or post cards. Finally, a general awareness about the ways in which your credit card information could be compromised and exploited is essential to be impervious to credit card fraud.
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June 11th, 2009
Credit card skimming is one of the most alarming crimes of the electronic fund transfer era. It is the process of obtaining the details of a credit card by using an illegitimate card reader, which is called a skimmer. This skimmer is usually concealed behind the actual card reader to record the private information associated with a credit card. The skimmer which is usually designed to store a large bulk of credit card information is used by a corrupt employee to copy the details of the credit card. He/she then sells it online to an accomplice who uses the credit card information for either duplicating fake cards or to use the details of the cards directly in e commerce transactions.
Credit card skimming primarily involves the use of the fake reader device by an employee without the knowledge of the customer or a hidden device like a camera in a credit card terminal could be used to bug the card. The evolution of the technologies has given rise to the smaller size skimming devices which are far easier to conceal. Use of blue tooth devices and fake keyboards to get the PIN used by the users is an increasingly used skimming scheme in ATMs. Formerly prevalent in northern America and Asia skimming has spread to Australia. Australians lose up to 500m AUD per year because of credit card frauds and skimming accounts to almost half of it.
The best piece of advice to avoid being a victim of credit card skimming is to keep the card at sight at all times, trying to examine the credit card reader for any unusual design and to keep a close watch on credit card receipts. Once you suspect of being a victim of a credit card fraud it is imperative that the police be informed immediately along with the credit card issuing organization. The sooner the police acts on the crime, lesser the liability vested with the credit card holder. Thus constant vigilance and faster action is the solution to reduce the risks involved with credit card skimming.
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June 10th, 2009
A credit card is an indispensable entity you need to carry with you for shopping, paying bills and much more activity. Choosing the most appropriate credit card that suits your requirements and provides you the best deal thus becomes very important. You will require your credit card to offer lowest interest rates, cheapest EMI options, convenient usage features and save you a lot of bucks. There are various credit card providers in Australia who provide different type of credit card offers catering to different requirements, financial status and expenditure styles of the Australians. It may sometimes be a daunting task to find out the most appropriate one.
Even while using credit cards there can be various issues you need to deal with. To help you out, here are some quick and useful suggestions for all the Australians: Identify the purpose of buying a credit card. Is it for daily shopping like grocery, travel expenditure, petrol payments, bill payments etc? It has generally been observed that Australians utilize their credit cards for grocery and for travel as well.
Get a rough estimate of how much your spending are and when will you be repaying the credits as that will decide how much interest you will be paying. You also need to get hold of the credit card jargon such as rates of interest, cash advance, balance transfer and card fee, interest free period etc. Credit cards provide reward points on purchases which vary on type of purchase and what rewards you may get. This criterion can sometimes suit your requirements. For example, special rewards on Sydney to Melbourne travel are useful for frequent travelers between these destinations or petrol rewards can be interesting for road travelers.
Australians frequently traveling abroad and doing transactions in foreign currencies will need to consider foreign currency or overseas transaction terms on the credit card Keep a track of what should be an appropriate time to change your credit card such as expiration on an offer, expiration of interest free period etc.
Some of the check points while comparing offers can be:
Lowest interest rate card may not always be most economical as it may have higher annual fee and may effectively turn out to be costlier. Don’t consider the reward points and reward value as one reward point may now always equate to $1.
Once you have chosen the cheapest credit card providing best deals and offers, you should follow some simple guidelines so that you have pleasant experience using your card. Keep track of your credit card bills and take note of any discrepancy and additional charges on the card. For security reasons, do not reveal your credit card details on email, unauthorized sites or vendors and do not use your credit cards through public internet outlets.
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