From The Australian, Wealth: CONSUMER NEWS: Your credit card might not work overseas, Ed Charles reports | September 19, 2007 AUSTRALIANS may be enjoying the Rugby World Cup in Europe but many may find that they will have trouble spending any money on their credit cards. The problem is that in Britain and Europe, credit cards that contain microchips and require a PIN rather than a signature have become the norm. Through ignorance, many merchants are now rejecting cards with […]
Tag: The Australian, Wealth
Getting the lowdown on low-docs
From The Australian, Wealth: Ed Charles | August 29, 2007 Investors with low-doc loans should reassess them, MORTGAGE brokers are warning property investors to be careful which low-doc and non-conforming lenders they choose to ensure they don’t face interest rate increases over the market rate charged by mainstream banks. The combined effect of the Reserve Bank of Australia’s August rate rise of 0.25 per cent and the knock-on effect of the US sub-prime mortgage crisis means funding costs for non-bank […]
Shuffle the deck for benefits
From The Australian, Wealth: Ed Charles | August 22, 2007 THERE is a trade off on credit cards between ones that charge an annual fee and offer rewards, travel insurance and other benefits, and cards that cost little or nothing and are cheap to use abroad. The equation isn’t an easy one to work out. Harry Senlitonga, financial analyst with financial information company Cannex, says the company has analysed when it becomes worth upgrading to gold and platinum cards. Cannex’s […]
Put that trip on the cards
The Australian, Wealth: YOU’RE on holiday and haven’t got a care in the world. But at the back of your mind there is a nagging doubt. How much will I be charged for using my credit card abroad? Should I use the ATM, or would travellers’ cheques have been the best option? Will my free travel insurance cover me? These are questions that should be considered and answered in the months leading up to a big trip for the best […]
How to build a multi-million dollar property portfolio
From The Australian, Wealth: Building a portfolio of multi-million-dollar properties is easier than you might have thought, Ed Charles writes | July 18, 2007 WHAT can be better than owning property? All you need to do is to know how to navigate the mortgage maze and have a sense of timingfor the peaks and troughs of the property market to build a multimillion-dollar portfolio, according to experts. It also takes self-discipline and nerves of steel, as you will need what […]
Multiple loans or one-lender
From The Australian, Wealth: Ed Charles | July 18, 2007 ONCE upon a time it was difficult to borrow money. The major banks required a 20 per cent deposit and some evidence of financial prudence. Now, thanks to the influx of smaller lenders known as the non-banks, it’s possible to borrow more than the value of an asset. The trouble is choosing the best product and which lender will give the best service. “Because there are so many loans, low-doc, […]
At your service for tickets, tee-offs and tables
by Ed Charles ALL platinum credit cards offer a concierge service, apart from the American Express credit card product. Amex reserves the concierge service for the top echelon of charge card holders. That’s those with the $1000-a-year platinum charge card or the $4300 Centurion cards. Concierge services also overlap with fine dining, ticket-booking and club schemes run by Mastercard and Visa. The Mastercard Moments and Applause schemes offer premium tickets for shows and can book some of the unbookable tables […]
The pay-offs of going platinum
COVER STORY Platinum is the new gold in the prestige credit card market, Ed Charles reports ONCE upon a time it was a class act to have a gold credit card. Then in 1997 along came the American Express Platinum charge card. It was invitation-only and more exclusive. Although the prestige was diluted when other players entered the market, led by Citibank in 1999 and the high-street banks three years ago, people still can’t resist the lure of platinum. “Platinum […]
Bridging the family fortune generation gap
By Ed Charles THE question has been exercising the minds of the wealthy forever — how to ensure the kids don’t blow the family fortune. Private banks report that independent advice on investment strategies for the intergenerational transfer of wealth is one of the fastest growing areas of demand. This is especially so in the case of business owners considering retirement. Goldman Sachs JBWere private wealth management managing director Paul Heath says private banking clients are usually successful people who […]