Credit Card Deals from Aussie
| Credit Card | Purchase Rate | Balance
Transfer |
Interest Free | Reward Points | Card Fee | |
|---|---|---|---|---|---|---|
| Aussie MasterCard - Aussie MasterCard - Make the most of our lowest rate 2.99% p.a on balance transfers and purchases for the 1st 6 months OR choose one of our other offers to suit your needs. | ||||||
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2.99% p.a (for first 6 months) |
2.99% p.a (for first 6 months) |
Up to 55 days | $49 |  |
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What is Aussie? Date Published : Monday, February 25, 2008
Source : Credit Card News from Money AU
When it comes to having a patriotic company name, there is surely only one winner in the Australian financial sector - Aussie.
For over 15 years, Aussie has been one of the major home loans and personal loans providers throughout Australia.
Founded in February 1992 by John Symond, Aussie started off as a small firm which, like many others, had to battle against the big boys in order to gain customers and a larger foothold in the sector.
It did so by offering different products from the standard mortgage lenders in a bid to stand out from the crowd. Some of the new inventions Aussie brought into the financial industry included true interest rate competition, consultations by experts in your own home at no upfront cost to you and the same rates for investors and owner-occupiers.
This enabled it to get a foothold in the market, especially in its home city of Sydney. It also allowed thousands of people get onto the property ladder when it may not have been possible for them to do so.
Since establishing itself, Aussie has branched out away from just home loans, into the sectors of personal loans and credit cards. It employs over 1,000 people in its customer service and mortgage advisory departments and has signed a deal with MasterCard.
Aussie is now one of the major players in the Australian loans sector which, just 16 years after forming, is some achievement.
Terms and Conditions
Australian Finance News
Australian Banks Continue To Battle For Deposits By Offering High Introductory Rates
Australia’s largest banks are using high introductory online savings rates to attract retail deposits and expand their deposit bases. Despite the high introductory rates, the lenders later aggressively cut back their deposit rates in order to preserve their profit margins.
The investment bank Macquarie conducted an analysis of the online savings market which found that the big four Australian lenders, as well as some international rivals were offering introductory rates that were as much as 200 basis points higher than the 4.5 per cent official cash rate.
QBE Denies Chief Executive To Step Down
Australian insurance major QBE has moved to end speculation that its chief executive is poised to step down. QBE chief Frank O'Halloran has run the company for the last twelve years, and the insurer says that he would continue in that role "for the foreseeable future".
Rumours of Mr. O’Halloran’s departure ricocheted around the insurance industry this week, when speculation began to emerge that Mr. O’Halloran would hand over the reigns of the company to Peter Harmer, a senior executive at insurance broker AON.
Research Firm Says ANZ Offers Best Value For Small Business
Australian banking major ANZ, has been named by a financial research firm as the lender which provided the best value banking service for small business. Despite the accolade, ANZ has not managed to convince all the decision makers in the business sector, and still lags behind rivals.
Canstar in issuing the award said certain product features that matter a great deal to small business provided by ANZ including credit facilities and loans.
But this has yet to translate into higher customer satisfaction levels with the bank.
JP Morgan To Cease Proprietary Trading
Global banking giant JP Morgan has apparently decided to close down its proprietary trading operations, sources from within the bank say. According to an unnamed source quoted by Dow Jones, JP Morgan has issued notice to approximately 20 proprietary traders that trade commodities.
JP Morgan has never had a huge focus on proprietary trading, and it’s prop trading desks have tended to be small. Nevertheless those desks have been affected by regulatory reform and in particular the Volcker Rule, which forbids banks from proprietary trading, proprietary investments in hedge funds and private equity.
Australians Believe Not Enough Competition In Banking
A survey undertaken by Australian wealth manager AMP suggests that nearly 78 per cent of all Australians believe that acquisitions by banks should be restricted.It is no coincidence that the survey results were released on the eve of the ruling by the competition regulator on National Australia Bank’s proposed acquisition of Axa Asia Pacific Holdings.
According to the AMP survey, an overwhelming majority of 71 per cent of people polled say they believe that there needs to be increased competition within the Australian financial services sector.