NEWS BITES

Money Magazine Australia - - THIS MONTH -

If you ap­ply for a new credit card after Jan­uary 1, 2019, it’s go­ing to be harder to get a high credit card limit. Un­der the new laws in­tro­duced by ASIC, banks and credit providers can only give credit lim­its that they as­sess the bor­rower can re­pay in three years. They have to use the same cri­te­rion for re­quests to in­crease a credit card limit.

Be­taShares is set to launch three new ETFs, which it says will “pro­vide ex­po­sure to some of the fastest grow­ing tech­nol­ogy in­vest­ment themes glob­ally”. There will be the Asia Tech­nol­ogy Tigers ETF (ASIA), Global Blockchain In­no­va­tors ETF (BLOK) and Global Ro­bot­ics and Ar­ti­fi­cial In­tel­li­gence ETF (RBTZ). No word as yet on fees.

Auswide Bank has launched a credit card that tracks the of­fi­cial cash rate, so the rate won’t change un­less the Re­serve Bank moves of­fi­cial rates. The cur­rent card rate is 9.45%, which is cal­cu­lated us­ing a “floor rate” of 7.95% plus the cash rate of 1.5%. So if the cash rate fell to 1% then the rate on the card would be 8.95%pa. There is an an­nual fee of $50.

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