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.....
Your credit file is about to get screened 15 October 2009
The Australian government will introduce five new pieces of data into consumer credit reports, adopting all the recommendations of the Australian Law Reform Commission for a more comprehensive reporting system.The ALRC recommended that five new pieces of information be added to credit files:* the type of each current credit account (mortgage, credit card, personal loan and so on);* the date on which each current credit card account was opened;* the credit limit of each account;* the date on which each account was closed; and* repayment history, provided responsible lending laws are in place.Under the existing negative credit reporting model an individual's credit file contains name, address, employer details and a record of credit applications made by the person over the past five years.The file also includes information about defaults (payments overdue by 60 days or more) and the date any defaults were paid.New legislation will prohibit direct marketing using credit information but will permit pre-screening of direct marketing lists to remove adverse credit risks.
