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.....
Big banks cut rates by 0.8 per cent 7 October 2008
Westpac led the five major banks in cutting interest rates on a standard variable mortgage by 0.8 per cent yesterday, following the Reserve Bank's shock move to cut official cash rates by a full one per cent, from seven per cent to six. Westpac and NAB's standard variable rate now sits at 8.56 per cent, with ANZ at 8.57. Commonwealth Bank is slightly lower at 8.53 per cent. The rate cut will save the average mortgagee with a $300,000 home loan about $2,000 per year or $168 per month. Economists said the RBA would probably continue to cut rates down to about five per cent by mid 2009.
