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.
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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.....
Credit Card Interest Rates Remain Stable 29 September 2008
Weekly Australian Credit Card Interest Rate Chart
Average credit card interest rates have remained fairly constant between the 22nd-28th of September on 154 Australian credit card offers. The only rate reduction came by way of a 25 basis point fall in the purchase interest rate of the Nab Low Rate Visa Card, this rate fell from 12.95%p.a. to 12.70%p.a..
Since the RBA cut the official cash rate by 25 basis points in September we have seen a rate reduction in only 3 credit cards out of 154 analysed. This reluctance by the banks to pass the rate cut onto their customers would indicate the perceived default risk accross their credit card portfolios is still of some concern.
