HomeView 2013 Media ReleasesBetter credit card deals for Christmas

The Customer Owned Banking Association has challenged consumers to make sure they’re not missing out on the best Christmas credit card deal.

COBA today said Christmas shoppers only needed to take a few minutes out of their busy schedules to learn more about the better alternatives in the marketplace.

Latest figures from Canstar show consumers can save around 4.8% on their cards.

“There are substantial deals on offer that also have more interest free days,” COBA Chief Executive Louise Petschler said.

“The customer owned sector – Australia’s credit unions, building societies and mutual banks – are delivering great value credit cards for Australian consumers.”

“Getting the right card to suit your needs can make a lot of difference, particularly around Christmas when additional expenses can really add up.”

The Canstar figures show the average credit card rate for customer owned banking is more than 4.8% lower than the major banks, together with a lower annual fee and longer interest free period.

The average interest rate for the customer owned banking sector is 13.21%, compared to 18.05% for the big four banks.

* Canstar figures refer to standard personal credit cards (unsecured). Gold, platinum and premium cards are excluded. Analysis includes 40 credit unions, building societies and mutual banks, and the Big 4 banks.

For more information and media interviews, please contact:

Daniel McDougall, Senior Manager – Media and Communications
02 8035 8444; 0407 637 541; This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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Media Contacts

Sally Mackenzie
Director - Strategy & Stakeholders
P: +61 2 8035 8450
M: +61 412 721 663
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