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.....
NSW Teachers Credit Union will open a branch in Perth before the end of the year as it tries to expand into the WA market. The 155,000 member credit union announced yesterday that net profit has fallen to $20 million from $23.9 million in financial year 2008, as higher interest expense impacted. Interest expense increased 47 per cent to $100 million, of which $92 million was attributable to retail deposits, with interest revenue increasing 26 per cent to $171 million. This year's after-tax profit of $20 million reflects two factors peculiar to this year – "the increased cost of funds experienced by all financial institutions following the sub-prime loans fallout; and our decision to shield members from the full impact of the RBA rate hikes for the best part of a year by subsidising our mortgage rates," said chief executive Steve James. Loans and advances increased one quarter from $1.6 billion to $2 billion, with retail deposits increasing 19 per cent to $2 billion.
