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.