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Credit Cards Latest News 'New loans stable as people take advantage of interest rates'

'New loans stable as people take advantage of interest rates'

'New loans stable as people take advantage of interest rates'

The economic crisis did not have much effect on the loan market due to people trying to take advantage of lower interest rates, according to research.

People attempting to take advantage of lower interest rates resulted in the loan market remaining fairly strong despite the economic crisis, a study has shown.

Datamonitor, a business intelligence provider, found that personal loans had even increased by $0.6 billion to $6.9 billion from September 2008 to September 2009, as reported in FN Arena.

However, Chris Shaw, writing for the financial news and data analyst, said the results are "somewhat surprising" due to figures stating that 36 per cent of those with personal loans agreed that they were suffering from financial stress.

And Mr Shaw said the crisis has since changed the sort of loans that people take out.

He added that September 2009 saw a decrease in vehicle loans to 22 per cent, but there was an increase in refinancing borrowing because interest rates were reduced by 4.25 per cent between August 2008 and April 2009.

This meant average credit card rates then fell by 210 basis points during that time.

But Danny John, writing for the Age, recently said that banks would have a reduced chance of raising rates on credit cards after the Reserve Bank maintained the current level of cash rates.

By Joe LettsADNFCR-2135-ID-19602983-ADNFCR
Monday, 08 February 2010 00:00
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Purchases:
18.59% p.a.
Balance Transfers:
18.59% p.a.
Cash Advance:
20.49% p.a.
Annual Fee:
No Annual Fee in 1st Yr, then $30

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Interest Free Days:
Up to 55 days
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Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia & have an Income of over $15,000.pa

Introductory Offer

Balance Transfer Rate:
1.99% p.a. 9 mths
Purchase Rate:
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Purchases:
12.74% p.a.
Balance Transfers:
12.74% p.a.
Cash Advance:
20.74% p.a.
Annual Fee:
$45 p.a.

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Interest Free Days:
Up to 55 days
Online Banking:
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Balance Transfer Rate:
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Balance Transfers:
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Cash Advance:
19.75% p.a.
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$99 p.a.

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Credit Limit:
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Annual Fee:
$49 p.a.

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Credit Limit:
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Interest Free Days:
Up to 55 days
Online Banking:
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Introductory Offer

Balance Transfer Rate:
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Purchase Rate:
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11.74% p.a.
Cash Advance:
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  • You are a permanent resident/citizen of Australia

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  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia & have an Income of over $15,000.pa

Introductory Offer

Balance Transfer Rate:
1.99% p.a. 9 mths
Purchase Rate:
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Purchases:
19.14% p.a.
Balance Transfers:
19.14% p.a.
Cash Advance:
20.64% p.a.
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$125 p.a.

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Interest Free Days:
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Online Banking:
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  • You are a permanent resident/citizen of Australia & have an Income of over $15,000.pa

Introductory Offer

Balance Transfer Rate:
1.99% p.a. 9 mths
Purchase Rate:
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Standard Rates

Purchases:
18.59% p.a.
Balance Transfers:
18.59% p.a.
Cash Advance:
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Annual Fee:
No Annual Fee in 1st Yr, then $130

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Interest Free Days:
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Online Banking:
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Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia & have an Income of over $15,000.pa

Introductory Offer

Balance Transfer Rate:
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Purchase Rate:
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15.49% p.a.
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Credit Limit:
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Cash Advance:
20.99% p.a.
Annual Fee:
$149 p.a.

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Credit Limit:
$60,000
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Approval Criteria

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  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia
  • You have an Income of over $35,000.pa
  • You have not applied and been declined for another Citibank product in the last 9 months
  • Please ensure you have your contact details, your employment details and your personal income and expense details ready to make an application

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19.99% p.a.
Balance Transfers:
19.99% p.a.
Cash Advance:
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Annual Fee:
$205 p.a.

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Credit Limit:
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Online Banking:
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Approval Criteria

  • Are at least 18 years of age
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  • Earn taxable income of $50,000 per year or more
  • Are a permanent Australian resident
  • If you are an existing Suncorp credit cardholder, you must have held your current account for at least 9 months before you can apply for another Suncorp credit card.

Introductory Offer

Balance Transfer Rate:
3.99% p.a. 6 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
14.99% p.a.
Balance Transfers:
14.99% p.a.
Cash Advance:
20.49% p.a.
Annual Fee:
$89 p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 55 days
Online Banking:
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Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia

Introductory Offer

Balance Transfer Rate:
5.99% p.a. 6 mths
Purchase Rate:
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Standard Rates

Purchases:
16.99% p.a.
Balance Transfers:
5.99% p.a.
Cash Advance:
19.99% p.a.
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Free For Life

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Credit Limit:
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Interest Free Days:
Up to 55 days
Online Banking:
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Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia
  • You have a Income of over $20,000.pa

Introductory Offer

Balance Transfer Rate:
5.99% p.a. 6 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
18.74% p.a.
Balance Transfers:
18.74% p.a.
Cash Advance:
20.99% p.a.
Annual Fee:
1st Year Free, then $49

Standard Features

Interest Free Days:
Up to 56 days
Online Banking:
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Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia
  • You have an Income of over $20,000.pa

Introductory Offer

Balance Transfer Rate:
5.99% p.a. 5 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
19.24% p.a.
Balance Transfers:
19.24% p.a.
Cash Advance:
20.74% p.a.
Annual Fee:
$24, or Free if you spend $1000+p.a

Standard Features

Interest Free Days:
Up to 0 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia
  • You have an Income of over $15,000.pa

Introductory Offer

Balance Transfer Rate:
5.99% p.a. 5 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
19.74% p.a.
Balance Transfers:
19.74% p.a.
Cash Advance:
20.74% p.a.
Annual Fee:
$144 p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 55 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia
  • You have an Income of over $50,000.pa

Introductory Offer

Balance Transfer Rate:
5.99% p.a. 5 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
19.74% p.a.
Balance Transfers:
19.74% p.a.
Cash Advance:
20.74% p.a.
Annual Fee:
$280 p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 55 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia
  • You have an Income of over $50,000.pa

Introductory Offer

Balance Transfer Rate:
5.99% p.a. 5 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
19.74% p.a.
Balance Transfers:
19.74% p.a.
Cash Advance:
20.74% p.a.
Annual Fee:
$89 p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 55 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia
  • You have an Income of over $15,000.pa

Introductory Offer

Balance Transfer Rate:
7.99% p.a. 6 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
18.49% p.a.
Balance Transfers:
18.49% p.a.
Cash Advance:
20.24% p.a.
Annual Fee:
$87 p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 55 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia
  • You have an Income of over $50,000.pa

Introductory Offer

Balance Transfer Rate:
7.99% p.a. 6 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
18.49% p.a.
Balance Transfers:
18.49% p.a.
Cash Advance:
20.24% p.a.
Annual Fee:
$30 p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 44 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia
  • You have an Income of over $15,000.pa

Introductory Offer

Balance Transfer Rate:
1.99% p.a. 9 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
18.59% p.a.
Balance Transfers:
18.59% p.a.
Cash Advance:
20.49% p.a.
Annual Fee:
No Annual Fee in 1st Yr, then $90

Standard Features

Interest Free Days:
Up to 55 days
Online Banking:
Yes

Approval Criteria

  • You are at least 18 Years of Age
  • You have a Good Credit History
  • You are a permanent resident/citizen of Australia & have an Income of over $15,000.pa

Introductory Offer

Balance Transfer Rate:
1.99% p.a. 9 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
19.14% p.a.
Balance Transfers:
19.14% p.a.
Cash Advance:
20.99% p.a.
Annual Fee:
$100 p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 44 days
Online Banking:
Yes

Approval Criteria

  • You are aged 18 years or over
  • You are a permanent resident or citizen of Australia (Temporary Visa holders are not eligible to apply)
  • You earn a minimum income of $15,000p.a

Introductory Offer

Balance Transfer Rate:
1.99% p.a. 9 mths
Purchase Rate:
N/A

Standard Rates

Purchases:
18.74% p.a.
Balance Transfers:
18.74% p.a.
Cash Advance:
20.69% p.a.
Annual Fee:
$150 p.a.

Standard Features

Credit Limit:
Subject to Status
Interest Free Days:
Up to 44 days
Online Banking:
Yes

Approval Criteria

  • You are aged 18 years or over
  • You are a permanent resident or citizen of Australia (Temporary Visa holders are not eligible to apply)
  • You earn a minimum income of $50,000p.a