Credit Card Australia: How To Avoid Everyday RIP-OFF Fees

[@sharonwood8085]

Hey Kent I have started watching your channel and I am blown away by the knowledge that you have and are so passionate about sharing, it makes me so sad that I can’t have you looking after my family’s financial investments, we have had a financial advisor since we came to WA in 2008 but since last year we have stopped using them because we felt that they were not providing us with accurate information regarding my husband’s UK super that we placed in a Qrops fund when we came to Oz, we wanted to move away from the fund that my husbands super is in and the advisor informed us many times that we are unable to remove it from the super fund provider that they work for as it was a UK pension and had to stay in a Qrops fund. I have received advice from the HMRC that I believe translates to my hubby being able to move his super into another industry fund without being liable to any financial penalties as he has been an Australian resident of tax purposes for over 6 years, I told the financial advisor about this information but the agent remained adamant that my hubby was not allowed to move his super. We are in the process of seeking legal advice around this but I would love to know if you have any knowledge around the rules of moving a UK pension that’s invested in an Australian Qrops fund, this belonging to someone that has been an Australian resident for tax purposes for over 6 years. out of a Qrops fund into a non Qrops industry fund. This stuff just boggles my mind but after the findings from the commission’s enquiries into the organisation that my hubby’s super is with, we have no faith that my hubbys super fund is in good hands. Thank you again for taking the time to read my very long messages 😊

[@KentCliffe]

I don't know anything about overseas pension, this is where a good financial planner that understands the regs can be of assistance.

[@ColectiveConsciousness1111]

Many are boycotting visa mastercard BIG BANKs, would be great if you talked about decentralised alternatives deliberately moving away from the big 5 banks. Thanks

[@beauhalliday9496]

should you get a credit even if you dont need one ?? just to build credit score or something ? does it make it easier to get a home loan all something ?

[@KentCliffe]

Nope, this is a misconception from US advice. In Australia, credit cards are a liability when considering your loan servicing, meaning even if you pay the credit cards off in full every month, the bank treats it as if you're fully indebted on the credit card. It's better to have no personal debt or a small credit card limit.

[@mattewandrew5655]

Thanks David for connecting me to * Carderplug4* on telegram I got my too off recenty it cool legit no he is great 💯