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Broker clients still rocked by credit card debt, despite signs of national improvement

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Australian Broker | 28 Mar 2013, 04:00 AM Agree 0
One broker says he's still regularly dealing with clients surprised at the effect of credit card debt can have on a home loan application
  • ANF | 28 Mar 2013, 11:36 AM Agree 0
    Marios, automatic limit increases where outlawed with the introduction of the NCCP. If you are still seeing these practises, then maybe you should report those offending.
  • Greg | 28 Mar 2013, 03:41 PM Agree 0
    I agree with Marios. The practise was prolific and increases offered with no other qualification than an acceptance. The problems of the past have not gone away because of the NCCP - perhaps it will protect new card holders better. I put it out there that the home loans granted do far less damage than credit card debt and POS credit terms e.g. 5000sqm television with no upfront and no repayments for 5 years - please stress the 30% rate at the other end.
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