Because ‘buy now, pay later’ companies are not regulated under the National Credit Act, Afterpay is not legally required to observe responsible lending obligations.
By not charging interest, Afterpay and other 'buy now, pay later' providers avoid the rules of national consumer credit law.
Credit cards sometimes charge exceptionally high interest rates.
The lawmakers have proposed capping interest rates on consumer loans at 15%, but doing so may hurt some of the people it's aiming to protect.
Canadians, like many other people around the world, are stressing about money and have amassed a lot of credit-card debt.
People are stressed out about money, with most of us struggling to make ends meet due to abusing credits cards and amassing consumer debt. Some tips on how to change your spending behaviour.
Zip Co’s ‘buy now pay later’ service is growing in popularity. But because its business model avoids the responsible lending requirements, consumer advocates are worried.
Easy credit services like Zip trade on the individual's belief that their income rise in the future.
Most Australian children have such a glut of toys that parents are opting to give them gift cards so they can choose for themselves.
Many children receive gift cards or even ask for them so they can choose their own presents. But are youngsters ready to handle the wiles of advertisers and the complexities of 'credit' on a card?
Many people on low incomes are paying dearly for access to credit.
People on the lowest incomes pay the most to borrow money, even when it's for essentials.
Withdrawing cash from an ATM can cost you if you’re not careful.
Global travelers are being increasingly asked if they want to pay for local purchases in terms of their home country currency. Here's why you should resist the strong temptation to do so.
Online frauds on credit cards are on the rise especially during holidays.
Cyber financial crime is on the rise globally. Here's how you can stay safe.
The current system of credit card fees is too confusing.
As the federal government changes the rules around credit cards, it should force companies to be more transparent about fees.
The Conversation/Emil Jeyaratnam
Millie, aged 5, wants to know where money comes from. We asked an economist to explain.
Modesty in your spending (and half an eye on the future) could make you very cheerful indeed.
New RBA changes could mean SME’s can’t rely on commercial credit cards to pay suppliers and wait out long payment terms with big business.
If the RBA includes commercial credit cards in new caps on interchange fees, small to medium enterprises might not be able to use them as a source of finance.
Former ANZ customer Julian Saliba (left) and Maurice Blackburn national head of class actions Andrew Watson speak to the media in Melbourne yesterday.
The High Court found late credit card payment fees were not extravagant, but the experts disagreed on the actual cost to the bank.
New rules around what merchants can charge for use of credit or debit cards may be difficult to police.
The RBA has revised regulations on how much merchants can charge for using a credit or debit card which might make the practise more common.
The information in credit histories can affect a bank’s decision to loan money.
Business Briefing: what happens to your credit history.
As credit reporting agencies find new ways to make money out of people accessing their credit histories, agency wrongdoing is calling into question the whole business model.
Broken bank via www.shutterstock.com
Almost half of Americans have trouble saving, while average credit card balances have swelled to $6,000. Can we turn this around?
If an online offer seems too good to be true, it probably is and you’re being phished.
Phishing attempts tend to rise during the festive season when people are more likely to respond to online marketing and to spend more money. How can you protect yourself?
Prime minister Malcolm Turnbull has accepted almost all the recommendations from the Murray Inquiry into the financial system.
The Turnbull government will ban businesses from charging consumers excessive surcharges on their credit cards, and move to inject more competition into the superannuation industry.
US credit cards are starting to get a new look.
Today marks a milestone in our transition to more secure electronic payments, yet the costs and benefits are not what they seem.
Black in the UK. Signs of change.
The US has been accused of inflicting their commercialised version of Halloween on us, and now we have the horror of the Black Friday “celebrations” in our calendar as well. In the US, this is the day…