Last updated: March 18, 2014



How to party when you don’t have money

How to party when you don’t have money


Payment plans leaving us in shock

Payment plans leaving us in shock

HOUSEHOLDS struggling to keep up with rising utility costs are complaining repayment plans designed to help them pay their bills are unrealistic.

Why you should stop being a brand snob

Why you should stop being a brand snob

IT IS time to look beyond the shiny boxes and pretty pictures. You don’t need to spend $50 on soap. You can drink cleanskin wine. Here’s how to be frugal.

Middle class facing debt collectors

 Prushka debt collection agency founder Roger Mendelson at the company's offices in Melbourne.

MIDDLE-income earners, families with the SUV and a house with a white picket fence, are not expected to be in financial debt. Think again.


Fantastic plastic remould under way

credit cards

The new changes will benefit cardholders. Picture: Tait Schmaal Source: National Features

CREDIT card users will benefit from a dramatic overhaul in rules over the use of plastic.

Unsolicited invitations to lift credit limits and fees for exceeding available credit are among the areas targeted in a huge card shake-up implemented yesterday.

Canstar financial analyst Adam Beu says the changes will benefit cardholders, not credit providers.

"It's all aimed at transparency and to bring the providers into line in terms of how credit cards are handled," Beu says.

But there are still traps.

The changes require direct payments to go to the most expensive part of your credit card debt, but this affects new cards issued after July 1 and may not necessarily apply to existing cards.

Providers are banned from sending unsolicited credit limit increase offers to customers unless they agree first.

There are also caps on how much a credit card account can exceed its limit.

Credit providers cannot charge fees on new cards when a customer goes above the credit limit, unless you first agree to it.

An InfoChoice spokesman says monthly statements have also been given a makeover.

"Monthly statements now have to include how long it will take you to pay off your entire balance via minimum repayments," the spokesman says.

"This should help consumers plan their repayments more effectively and hopefully (act) to reduce their debt faster."

When customers now apply for a credit card they must be given a "key fact sheet" by the provider and if not, they should ask for one.

This provides information including minimum repayments, interest rates, length of interest-free periods, and any annual or late payment fees.


  1. Dow Jones
    at 17:00
  2. Oil
    at 19:45
  3. ASX 200
    at 19:45
  4. AUD/USD
    at 19:45

at 04:40PM

RED Red 5 Limited 9.9 13.7931%
GBG Gindalbie Metal.. 5.9 -11.9403%

Investment Finder Narrow Widget