Tag Archives: Debt

Do you use a Credit card or Debit card?

For some people, credit cards can present a serious problem when it comes to spending control. Students and young people are especially susceptible to this, as they can often have poor spending habits when they first head off to uni and gain a measure of freedom. In order to help people control their bad spending habits, banks are offering debit cards so that people can access their money using a card using Visa instead of the Eftpos.

The best thing about this a debit card is that you can set your spending limits. Customers are only able to spend as much money as they have in their bank account, so this can really help to suppress frivolous spending a great deal. Really this is a pre-credit approach to spending where the consumer only spends what they have instead of the “buy now and forever be in debt” model that so many of us now operate under.

Many banks offer Visa debit cards to their customers, including ANZ, BankWest, St. George and smaller regional building societies such as Newcastle Permanent.

Take for example the St. George Visa Debit Card, its accepted almost everywhere because Visa. It gives you the ability to make purchases everywhere that Visa is accepted, and this includes making internet purchases. Along those same lines, the card has special protections to make internet purchasing a little bit safer than it might have otherwise been.

One of the excellent aspects of this card is that it will take cash out of the equation for travelers. If you are going on a trip, you don’t want to be carrying lots of cash on your person. This can be dangerous and it is really unnecessary, given the fact that there are acceptable options at your disposal.

Lots of these debit cards have popped up recently, but that doesn’t mean that they are all the same. The St. George Visa Debit Card stands out from the crowd because of its wide spread access across the world. When you are working with the power of Visa, you can be reasonably sure that you are going to be able to get money out of an ATM or make an important purchase no matter where you find yourself. In addition, you will get 10 free email or text message alerts to keep you up to date on the important details that matter to your account.

What do you have in your pocket? Credit or Debit?

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4 Ways to Fix Your Over Spending From Christmas 2008

Everyone does it: spending too much money at Christmas is almost as certain to happen as Christmas is. When you are thinking about your loved ones, your family, and your friends, it can be hard to stop spending. Nearly everyone splurges on Christmas, and nearly everyone regrets it by the time the New Year rolls around. If you were one of the many different people who spent too much during Christmas 2008, there are a few different steps that you can take to fix the situation. By following these different tips, you can fix that over spending as soon as possible.

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4 Reasons Why You Should Consolidate Your Credit Card Debt

The many benefits of using credit cards is nothing new. Before I go into details about credit card debt in particular, I would like to refresh your mind with a brief explanation on what a credit card is really all about. A credit card is a system of payment that gives the consumer a flexible line of credit, named after the small plastic card issued to users of the system. The issuer lends money to the consumer to be paid later to the merchant, but at the added expense of interest on your purchase. It’s not an overstatement to say that the humble plastic credit card has a large impact in the life of most Australians. However, when you spend too much too often, it’s easy to rack up a lot of bad credit card debt.

If you have a large amount of credit card debt and own a property and have equity then you could consider using that equity to consolidate your debt with a refinance loan. These could even allow having a lower monthly payment, thereby freeing up your finances to let you pay back your credit card debts faster and with less stress!

1. Lower-interest rate

You could save a lot of money by using a credit card balance transfer. By shifting your balance to a card that charges no interest for a set period of time, you can overpay and get rid of your debt faster and for less.

2. Simple and reliable

As I mention before, credit card debt consolidation is quite simple and reliable: it isn’t one of those crazy financial mechanisms we here so much about on the news! In fact it wouldn’t take much more than 30 minutes to move all your debt with a balance card transfer application.

3. More convenient

It’s inconvenient to manage numerous payments to different credit cards, especially if payments are not synchronised to go out on the same day. By consolidating all your credit card debt from your portfolio of accounts into one simple monthly repayment you free up time, have less correspondence to handle and are exposed to a much lower risk of missing a payment and being charged a late penalty.

4. Rebuilding credit history

If you are struggling with credit card debt because you over-extended yourself by spending more than you earn, then you run a high chance of missing payments and damaging your credit score. By consolidating your debt at a low interest rate, you can meet your payments, get rid of your debt and help your credit history.

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