Over the next year, a progressive range of reforms will take place that will impact Australian Financial Institutions. To help explain these changes and what they may mean for you, Greater Bank has developed some key facts to keep you informed.
These changes will impact two areas. Firstly, the sharing of credit history with credit reporting bodies. This is called Comprehensive Credit Reporting (CCR) and Greater Bank has chosen to be part of the CCR program as we believe increased visibility of a customer’s total credit history will allow us to make even more competitive offers.
The second change relates to the way interest is applied to purchases on your credit card.