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BANKS are offering to increase the credit card limits of some customers by more than 70 per cent, ahead of new federal laws making it tougher for lenders to push for higher card maximums.

ANZ Consumer Finance wrote to credit card customers last month inviting them to apply for limit increases. In one example, the new credit limit offer for a Frequent Flyer Platinum account was 77 per cent higher than the previous maximum.

The offers come just six months before such solicitations are banned. From July 1, only customers who have ''opted in'' by giving their bank written or phoned consent will continue to receive such invitations.


Read more: http://www.theage.co...l#ixzz1iZzqjBIA

PUBLIC land worth $700,000 may end up in the hands of a Hawthorn East resident in what neighbours say is an “unashamed land grab”.

Kaikoura Ave resident Richard Pearse has lodged an “adverse possession” claim for 470sq m of parkland near Gardiners Creek.

Mr Pearse, a former Camberwell councillor, has installed a double driveway, water tank, planted trees and shrubbery and fenced off the public park which is next to his property.

Under adverse possession laws, a trespasser who has been in possession of land for more than 15 years can acquire ownership at no cost.

Impaired loans rose by just $31 million to $4.61 billion while specific provisions for likely writeoffs dropped by $200 million to $1.66 billion as previous credit problems worked their way through the system. Actual loan losses in the 12 months jumped by $567 million to $1.86 billion as Westpac wiped the slate on its lending to the troubled property sector.


Read more: http://www.smh.com.a...l#ixzz1ezFRphE0

It is not clear that commentators using the term ''discounting'' actually know what a vendor will accept. If they do not then the term only describes the difference between the estimates and not the real value.