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  • comparison | Which4U Australia - Money Blog
    2012 with the report into MP Craig Thomson and the revelations about credit card misuse by a number of government departments There s also the case of Australian banks Having witnessed the collapse of Northern Rock in the UK and the considerable bailout afforded to the Royal Bank of Scotland large Australian banks have kept revenues and profits high There will be few who argue against the merits of strong banks particularly given the fate of European and American counterparts Many of these are now under investigation for alleged manipulation of the inter bank lending rate during the inception of the global financial crisis But for many it s hard to accept the banks ability to pull in record profits during a global financial crisis when many are living on the breadline and trying to negotiate their way through a stuttering economy more Tags australia comparison credit cards great britain home loans savings accounts term deposits Posted in Credit Cards Savings Accounts Term Deposits Comments Off on Banking in Australia and Great Britain A Comparison Share the Which4U Australia Money Blog Tweet Pages Home About Us Resources Categories Bank Accounts Credit Cards Home Loans News Saving Money Savings Accounts Term

    Original URL path: http://blog.which4u.com.au/tag/comparison (2016-02-17)
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  • great britain | Which4U Australia - Money Blog
    in 2012 with the report into MP Craig Thomson and the revelations about credit card misuse by a number of government departments There s also the case of Australian banks Having witnessed the collapse of Northern Rock in the UK and the considerable bailout afforded to the Royal Bank of Scotland large Australian banks have kept revenues and profits high There will be few who argue against the merits of strong banks particularly given the fate of European and American counterparts Many of these are now under investigation for alleged manipulation of the inter bank lending rate during the inception of the global financial crisis But for many it s hard to accept the banks ability to pull in record profits during a global financial crisis when many are living on the breadline and trying to negotiate their way through a stuttering economy more Tags australia comparison credit cards great britain home loans savings accounts term deposits Posted in Credit Cards Savings Accounts Term Deposits Comments Off on Banking in Australia and Great Britain A Comparison Share the Which4U Australia Money Blog Tweet Pages Home About Us Resources Categories Bank Accounts Credit Cards Home Loans News Saving Money Savings Accounts

    Original URL path: http://blog.which4u.com.au/tag/great-britain (2016-02-17)
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  • home loans | Which4U Australia - Money Blog
    rates on 1 year 2 year and 3 year fixed rate home loans must be deemed admirable in a climate where banks have cried poverty like a broken record despite ironically record breaking profits But it should equally ensure that the wool that has constantly been pulled over consumers eyes is at last fully removed Read more at Which4U Tags ANZ bank accounts home loans St George Bank Posted in Bank Accounts Home Loans Comments Off on Comment Ents and Entrapment Concerns Mount for Australian Banks Friday December 2nd 2011 Consumers might have been forgiven for thinking that a timely boost was set to come their way in time for Christmas It is widely predicted that central interest rates which had remained untouched since April 2009 will fall for the second consecutive month when the Federal Bank s committee convenes next week for the final time in 2011 But the untimely downgrading of Australian banks by credit ratings agencies this week has put a new complexion on the immediate forecast for bank funding irrespective of whether a central rate cut is announced or not Consumers are set to lose out when they may have expected to benefit Downgrading Standard Poor s have downgraded a number of major banks worldwide including Barclays HSBC Goldman Sachs UBS in Switzerland and the Bank of America In Australia the Commonwealth Bank ANZ National Australia Bank and Westpac all fell by one grade to AA the agency s fourth highest rating Macquarie Group was cut by two levels to BBB a grade which anticipates a level of risk from adverse economic conditions What these reductions do is heighten insecurity for banks to lend to one another This in turn raises the cost of lending as banks insure themselves from that elevated level of risk Such

    Original URL path: http://blog.which4u.com.au/tag/home-loans-2 (2016-02-17)
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  • term deposits | Which4U Australia - Money Blog
    in 2012 with the report into MP Craig Thomson and the revelations about credit card misuse by a number of government departments There s also the case of Australian banks Having witnessed the collapse of Northern Rock in the UK and the considerable bailout afforded to the Royal Bank of Scotland large Australian banks have kept revenues and profits high There will be few who argue against the merits of strong banks particularly given the fate of European and American counterparts Many of these are now under investigation for alleged manipulation of the inter bank lending rate during the inception of the global financial crisis But for many it s hard to accept the banks ability to pull in record profits during a global financial crisis when many are living on the breadline and trying to negotiate their way through a stuttering economy more Tags australia comparison credit cards great britain home loans savings accounts term deposits Posted in Credit Cards Savings Accounts Term Deposits Comments Off on Banking in Australia and Great Britain A Comparison Share the Which4U Australia Money Blog Tweet Pages Home About Us Resources Categories Bank Accounts Credit Cards Home Loans News Saving Money Savings Accounts

    Original URL path: http://blog.which4u.com.au/tag/term-deposits (2016-02-17)
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  • Payday Lenders Under Fire | Which4U Australia - Money Blog
    cost of living are finding their problems exacerbated by interest rates and or fees in excess of 100 Extraordinary and Exploitative Ross Womersley executive director of the Council of Social Service conceded that such lenders fulfil a service but slammed the extraordinary costs that struggling consumers had to face Unfortunately many payday lenders not all really do exploit the vulnerability of people with interest rates that are just absurd and unreasonable Of more concern to many will be the important market position that payday lenders have forged for themselves as joblessness rises To Womersley a lot of lenders are worried about speaking out against these institutions because they are concerned about having to turn to them again And surreptitious providers are finding ways to charge rates of up to 1 000 APR say those seeking stronger regulation for the industry It seems unthinkable but these rates pale in comparison to the 4 000 APR charged by some providers in the UK where payday loans are big business A recent update on our sister Finance Blog in the UK tells how experts journalists and consumer groups turned on payday lending company Wonga after it was caught marketing itself to university students as a credible alternative to the standard government backed student loan despite the firm s eye watering 4 000 APR Many such lenders suggest that their business model can only survive through higher rates It is easy to see such rates as proportionate to the level of risk But such companies can profit massively and their owners too Is it time for regulation It s certainly worth trying for affordable credit in any shape or form before subjecting yourself to legal loan sharking See if Which4U can help Keith McDonald Tags credit rating payday lending personal debts Share This Post

    Original URL path: http://blog.which4u.com.au/credit-cards/payday-lenders-under-fire (2016-02-17)
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  • credit rating | Which4U Australia - Money Blog
    figures when it issued a threat of widespread sovereign downgrades on the eve of the European summit Many banks and governments alike are struggling to raise funds or to find manageable rates at which to borrow Those that can on the other hand are exploiting every drop of political advantage they can muster Many banks are commiting various kinds of atrocities Many are simply finding ways even unwittingly to frustrate their customers Scandal Struck A number of UK banks have been caught up in scandals involving the elderly As reported on our sister blog in the UK a succession of banks have been caught and fined for mis selling risky investment products to vulnerable consumers Pensioners of 83 years on average were pressured into investing six figure sums of their inheritence into long term risk heavy products often when they were not even expected to survive the investment term Collectively banks have faced compensation payments approaching 150 million 233 million more Tags Commonwealth Bank credit cards credit rating interest rates mobile apps Reserve Bank of Australia Posted in Credit Cards Savings Accounts Comments Off on Bank rupture Debunking the Credit Score Myths Thursday September 8th 2011 When it comes to personal debts banks and credit card companies have devised a numerical and statistical analysis of the consumer s creditworthiness through the implementation of credit scores This rating is based upon the credit report and data mining information gathered by credit bureaus like Veda Advantage in Australia Experian in the United States and Equifax in the United Kingdom on stores financial institutions and other businesses where consumers have made small to big transactions FICO and other prominent credit scoring systems are used to evaluate the financial risk posed by lending money to consumers Therefore a low income consumer with a history

    Original URL path: http://blog.which4u.com.au/tag/credit-rating (2016-02-17)
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  • payday lending | Which4U Australia - Money Blog
    return rates for the lender The Advertiser reported that a desperate mother who took out a loan of 1 500 from the Cash Shop faces repayments totalling 2 600 in just four months 73 interest Consumers turning to payday loans because of their struggles against the increasing cost of living are finding their problems exacerbated by interest rates and or fees in excess of 100 more Tags credit rating payday

    Original URL path: http://blog.which4u.com.au/tag/payday-lending (2016-02-17)
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  • personal debts | Which4U Australia - Money Blog
    Advertiser reported that a desperate mother who took out a loan of 1 500 from the Cash Shop faces repayments totalling 2 600 in just four months 73 interest Consumers turning to payday loans because of their struggles against the increasing cost of living are finding their problems exacerbated by interest rates and or fees in excess of 100 more Tags credit rating payday lending personal debts Posted in Credit Cards 1 Comment Debunking the Credit Score Myths Thursday September 8th 2011 When it comes to personal debts banks and credit card companies have devised a numerical and statistical analysis of the consumer s creditworthiness through the implementation of credit scores This rating is based upon the credit report and data mining information gathered by credit bureaus like Veda Advantage in Australia Experian in the United States and Equifax in the United Kingdom on stores financial institutions and other businesses where consumers have made small to big transactions FICO and other prominent credit scoring systems are used to evaluate the financial risk posed by lending money to consumers Therefore a low income consumer with a history of delinquent paying of bills may get a low credit score as compared to a high income individual Aside from banks and other financial institutions mobile phone providers insurance firms real estate agencies and other businesses use credit scoring to determine approved credit and set credit limit Even though paying the bills on time would mean better credit scores many of us don t know how the scoring system works Besides we don t know all the factors involved in determining credit score Some consumers get bad credit scores especially if they can t identify fact from fiction Here are the common myths on credit score more Tags credit rating credit score Debunking money

    Original URL path: http://blog.which4u.com.au/tag/personal-debts (2016-02-17)
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