Interest in credit card story

Finsec has been in the news this week due to credit card interest rates dropping for fixed periods as banks try to attract new custom.

Budget advisors have said that while lower interest rates are positive, people need to be wary of having to pay back more debt after Christmas.

Finsec told TV3 News “They’re bad for staff in that staff will be no doubt be forced to push them and they’re bad for the economy,” said Campaigns Director Andrew Campbell. “Our banks need to be leaders in increasing deposits and coming up with strategies that deal with the current financial crisis.”

Check out the following coverage:
http://www.3news.co.nz/Video/Business/tabid/369/articleID/77535/cat/58/Default.aspx#vide

http://www.radionz.co.nz/__data/assets/audio_item/0011/1465589/ckpt-20080424-1716-High_Interst_Rates_part_2-wmbr.asx

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