Issuers,Australian,Credit,Card finance, share, loan Issuers of Australian Credit Cards and their Legal Obligatio
If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that
Here we take a look at the 36 licensed issuers of Australian credit cardsand let you know what their legal obligations to you are as you search through the many types of Aussie Credit Cards available to you. The largest credit card providers are the following: 1. AIMS 2. American Express 3. AMP 4. ANZ, 5. Aussie, 6. Austral, 7. Australian Central Credit Union, 8. Citibank, 9. Commonwealth Bank, 10. HSBC, 11. Macquarie Bank, 12. NAB (National Australia Bank), 13. St George, 14. Virgin Money 15. Westpac The other providers of Australian Credit Cards are: 1. Bananacoast Community Credit Union 2. BankWest 3. mecu 4. Bendigo 5. Members Equity 6. Big Sky Credit Union 7. Bank of Queensland 8. Newcastle Permanent 9. RESI 10. Savings & Loans Credit Union 11. Community CPS 12. South West Credit Union 13. Community First Credit Union 14. CUA (Credit Union Australia) 15. Suncorp Metway 16. Encompass Credit Union 17. Victoria Teachers Credit Union 18. GE Money 19. Heritage Building Society 20. Wizard 21. Intech Credit UnionAs of July 2010, when the National Credit Law was created, anyone involved in credit activities of any kind in Australia whether issuers or brokers has to be either registered with ASIC or part of a body already registered with ASIC. ASIC is the Australian Securities and Investment Commission and its primary role is to oversee company and financial services laws to protect Australian consumers, investors and creditors.It states in the National Credit Law that lenders must only lend you money responsibly that is, only if you are going to be able to pay it back. This change was brought about by the global credit problems that affected world finance from 2008. Nowadays the lender has to take reasonable steps to get information from you in an attempt to reasonably understand and verify your financial situation, requirements and objectives. It must also confirm that the credit contract you are asking for is "not unsuitable" for you. This of course includes all providers of Aussie Credit Cards.There are only a few exceptions to the above rule including car yards and retail stores so here's the ASIC link to check that your credit provider is licensed: http://www.search.asic.gov.au/credit/hnl.htmlOf course if youre searching through Australian credit cards on a good personal finance site, to compare features and benefits, then the providers on there are likely to be the main financial institutions in Australia, so you will have no problems with their registration most of them will be household names that operate in full compliance with all Government regulations.For more information regarding Australian credit cards, Aussie credit cards and credit card applications, please visit: www.lowerbills.com.au
Issuers,Australian,Credit,Card