- we will:
- not offer you a credit card limit increase if you have a recent poor credit performance or are struggling to meet repayments on your ANZ credit card - one indicator of this may be that you are only making minimum monthly repayments on that card;
- not offer you a credit limit increase if we know that you are on a fixed income, for example, receiving a government pension (e.g. old age pension, veteran’s pension);
- provide you with information about easy and efficient ways to reduce your credit card limit;
- ensure your minimum monthly credit card repayment does not fall below 2% of the outstanding balance, unless:
- you are in financial difficulty and we are assisting with reduced repayments;
- you have accepted a special offer where for a specified period either no interest or a concessional interest rate is charged and no repayment is required.
- with any credit card limit increase offer:
- outline how much the minimum monthly repayment would increase if the offer was accepted;
- recommend you reject the offer if your personal circumstances have changed;
- include information about how to request a lower offer.
- explain in clear and simple terms how interest on your credit card or loan is calculated and charged, what fees may apply and when, and the consequences of paying late on your credit;
- have a team of trained, dedicated staff to work with customers experiencing financial hardship as a result of a change in their personal circumstance. This team will work with customers to identify temporary assistance options considering the customer’s individual circumstances.
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