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.....
Banks pocket an extra $886,500 every day they do not cut interest rates on the 14 million credit cards on issue in Australia. No bank or card issuer has yet announced interest rate cuts on their credit cards. If they remain unchanged for one month, banks will pocket $27 million. "Not passing on any interest rate cut to credit card holders is just punishing people who are already struggling," said Nicole Rich of the Consumer Action Law Centre. Almost every Australian adult has at least one credit card and the nation's collective card debt, attracting interest, has blown out to $32.4 billion.
