interest rate cut

Credit Card Savers

Financial Adviser's picture

With the New Year come and gone, Australians are beginning to cope with a new reality:  Credit card debt with mastercard, Visa or American Express credit cards full with the Christmas purchases.  This year alone Australians have racked up a total of 50 billion dollars’ worth of credit card debt, and most of that is at the highest end of the interest rate scale ranging from a high 19.99% to an astounding 25%.  With the official cash rate at the reserve bank sitting at a low 4.25% credit card companies are running ridiculous profit margins.  If you’re stuck wit

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