If you find yourself in the situation that you are unable to pay your credit card debt balance off each month then there are steps you can take to reduce your interest charges.
.....
Not all credit cards are created equally. And so it makes it that much harder to decide which credit card offer to choose. There are many factors you sh.....
Aussie banks profit from credit crunch 24 September 2008
The average profit margin for the major banks was 54.8 per cent in the March quarter, more than double the long-term average return of 26.9 per cent, according to official figures from the Australian Prudential Regulatory Authority. That equals more than $1 profit for every $2 in interest and fee income charged. Banks raised interest rates independently of movements in official cash rates because they said their margins were being squeezed by higher funding costs. Those claims were supported by the Treasurer Wayne Swan. The Commonwealth, the National Australia Bank, the ANZ and Westpac all lifted their mortgage rates by more than the Reserve Bank. Banks interest income increased in the March by $7.2 billion to a record $31.9 billion. Interest costs grew $6.3 billion with net interest income up 13 per cent to $8.3 billion. Earnings from fees and commissions climbed 36.9 per cent to $4 billion.
