Category Archives: Credit Cards


A bill to outlaw credit card use in online gambling has fallen over after a senate committee deemed it the responsibility of gambling companies and banks to tackle the problem. While gambling with credit cards is banned in casinos and pubs, online gambling with credit cards is still allowed. The result is disappointing for gambling experts and support groups.  A

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Is the ANZ BNPL capitulation a canary in the coal mine for credit cards?

Recent news of ANZ Bank finally capitulating and announcing their own version of Buy-Now-Pay-Later could be considered the canary in the coal mine for credit cards.  At a time when Australians managed to wipe $1.1 Billion off their credit card debt in a single month, it could be argued this archaic form of providing credit could be on it’s way

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“BNPLs don’t have checks and balances on customers”- True or False?

judgement scale and gavel in judge office

Please refer to my article “There’s no hardship or protections with BNPL if you get into trouble”  where I talked about the ‘BNPL incentive’. BNPL companies need customers to be able to pay off their debt. Which is why your spending limit on a product like Afterpay starts low, and you need to make your first instalment payment upfront.   Many

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True or false? “BNPL is unregulated”

Have you read a news article about Buy-Now-Pay-Later in the past year? Stupid question right?  Afterpay, Zip and Klarna have dominated the news cycle for years now. More often than not, what you read is well researched, well fact checked and well written. However one statement or theme that continues to pop up is that ‘BNPL is unregulated’.  We’re here

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Christmas Savings tips and tricks 

Industrial action, COVID-19 disruptions and Christmas-level parcel volumes every week mean the lengthy delays people are experiencing in regards to their delivery times are here to stay, according to the boss of logistics software company Shippit.  That’s why we here at SmartWayToPay think now’s the time to be considering shopping for Christmas. So what’re some top tips to saving on

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SmartWayToPay Calls on Government to Cap Credit Card Interest at 10%

SmartWayToPay is calling on the federal government to cap credit card interest rates at 10% after ASIC recently confirmed that 1.9 million Australians were in persistent credit card debt. This comes at a time when it appears total personal credit card debt accruing interest in Australia appears to be locked at a consistent $20 billion, as it has remained for

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Business Insider Article- “Banks are ‘weaponising’ buy now, pay later myths, according to SmartWayToPay. Here’s what you need to know.”

Check out the excerpt of Business Insider’s article about BNPL Myths below. Buy now, pay later (BNPL) products such as Afterpay or Zip Pay have increased in popularity in recent years, with the Covid-19 pandemic seeing customer growth increasing dramatically.  It’s unsurprising why this is the case given the fact millennials are now 37% less likely to own a credit

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The witch hunt being carried out against Buy-Now-Pay-Later (BNPL) providers is being undertaken to stop the $4 Billion river of gold that is credit card interest from drying up. Afterpay and Zip have claimed that banks are forcing mortgage applicants to delete their BNPL accounts before approving their home loans. Zip boss Peter Gray claimed it’s the number one reason

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credit cards aren't the smart way to pay

Data from a major financial regulator has found that of over 70,000 complaints in FY21, credit cards received 14 times more complaints than Buy-Now-Pay-Later (BNPL) products.  This is particularly poignant when considering there are over 12 million credit card accounts in Australia and over 6 million BNPL accounts. Credit card complaints are well out of proportion.  A recent Media Release

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