Share on facebook Share on twitter Share on linkedinFeel like you’ve been getting a raw deal from customer loyalty schemes? Well, Australia’s competition watchdog says you might be right.The ACCC has released a new report into loyalty schemes, such as frequent flyer, supermarket and hotel operators. The report calls for loyalty operators to:· Provide more information to consumers · Improve their data practices · Stop automatically linking people’s payment cards to their loyalty scheme profilesThe ACCC wants loyalty operators to more prominently alert people when their points are about to expire and to stop collecting data on the sly.The ACCC also wants the government to ban unfair contract terms in loyalty schemes and to introduce a new law against certain unfair trading practices. Five tips for consumersCompanies use loyalty schemes to collect your data and send you targeted ads Don’t make unnecessary purchases just to earn points Just because you get a points discount at one business, it doesn’t mean you can’t find the same product for less at another business Keep track of when your points are due to expire Loyalty scheme conditions change from time to time, so read your emailsLooking to buy a property? Hit the button below to arrange a conversation with one of my loan specialists to find a deal that's best for your situation.Book a review todayWe partner with over 50 lenders so you can find the perfect solution FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about How to avoid loyalty scheme tricks
Why you should avoid Afterpay
Share on facebook Share on twitter Share on linkedinBuy-now-and-pay-later business, Afterpay is definitely shaking up the payment marketplace. There’s even a nightclub that’s proposing to offer it to it’s customers. Even still, it’s a highly debated issue among Australians. My advice about Afterpay? And if you’re thinking about purchasing, investing or refinancing a property in early 2020, don’t use Afterpay for your holiday shopping.More generally, if you’re going to use it, do it after you’ve got your home loan. Banks and lenders that see Afterpay on your banking statements get nervous about your saving and spending habits. More simply, it raises flags about a consumer's ability to budget and live within their means.I’m working with many customers who have very strong loan applications but are running into issues because of just a few small Afterpay transactions.If you’re going to use Afterpay, use it as a short term incentive but make sure to pay it back as quickly as possible.If you need a hand managing your existing Afterpay payments, or would like to know more about how these could impact your home loan application, I'm happy to speak with you. Let's get real about Afterpay Hit the button below to arrange a conversation with one of my debt management specialists to lower the affect on your home loan application.Chat about my debtWe experts in debt consolidation. You're in good hands. FollowFacebookLinkedinDo you have questions about mortgages or loans? Ask us in the comments below … [Read more...] about Why you should avoid Afterpay