Dude, 10% per month.... that's payday lending. Most banks offer extended interest free periods as well as balance transfers. It's all about capture of this customer type at this stage of their lifecycle for future gains, e.g. when they are ready to buy their first home.
Most Aus banks will eventually move to an interest free product to defend this part of their patch. Payments are a gateway.
APT Price at posting:
$24.40 Sentiment: None Disclosure: Not Held
