Virgin’s position as the company behind the most successful credit card launch in Australian history is unlikely to be challenged by Westpac.

When Virgin launched its new round-edged credit card in a multitude of colours, offering a way for you people to fund flights, shopping sprees and nights out with friends, more than 700,000 people were seduced.

Now, the Sydney Morning Herald reports, many of those people are likely to be feeling like they’ve been duped by Westpac, which took over Virgin’s customers in 2007, with their bland alternative Ignite, marketed as a cheap credit card that actually offers little to distinguish it from its rivals.

Thousands of Virgin customers are being forced to switch to the new credit card to carry on using their account, with the Sydney Morning Herald lamenting the graceless switchover as evidence that “large corporates and funky branding do not mix”.

However, Westpac spokesperson David Lording was quick to defend the card, telling the paper: “The card is a reflection of the times. Virgi

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Aussies expecting a payout through the government’s stimulus package shouldn’t forget about clearing their credit card debts.

While some Aussies may have already found themselves low-rate credit cards and are happy with the way in which they are paying off their debts, those on higher rates should consider using the stimulus package to at least clear part of their balance, an expert claims.

Financial Design for Life director Chris Browne said that while using all the package to clear the debts might not be the most fun thing to do, clearing part of it is advisable.

He said people should enjoy some of the money but put some to good use too.

“If you do have credit card debt, make sure you get rid of it because it’s a really great way to free up some cashflow,” he said.

Other ways to better manage debts on plastic include switching to low-rate credit cards so that interest repayments are cut down.

Those looking to get on a firm financial footing are urged to compare credit cards.

Writing in Lifehacker’s weekly Loaded column, Angus Kidman points out that by searching around for a more competitive deal Aussies should be able to find that they can obtain a credit card that comes with a lower rate of interest or provides other benefits.

For those struggling under the weight of credit card debt, Mr Kidman advises people to do all they can to ensure they are not a victim of credit card fraud so that they are not “saddled with debt that isn’t yours”.

However, while Aussies may consider getting rid of all their credit cards as an ideal way to sort of their finances, keeping hold of one low rate credit card could be advisable as he states that plastic can prove to be of assistance while travelling.

Meanwhile, Chris Browne, director of Financial Design for Life, recently stated that those on high rate credit cards should use the money received from the government’s bail-out packaged to clear off their debts.

The credit crisis rumbles on but kind-hearted Aussies are still looking to do their bit for the greater good.

A number of charities across the country have seen an increase in levels of donations, a Sunday Telegraph article reveals, in spite of the economic turmoil.

“Statistics show that even during times of recession and hardship, the level of giving amongst the general population remains relatively strong,” Jeremy Bradshaw, editor of Fundraising & Philanthropy Australasia magazine, states.

Meanwhile, Paige Gibbs, fundraising executive manager for the RSPCA, points out that a number of donors have handed the money received from the government’s financial stimulus package directly to the charity.

Aussies are also looking to make regular donations to charities such as the Salvation Army by using a credit card or bank transfer scheme.

However, those looking for the best plastic with which to give to charity may first want to compare credit cards in order to secure a competitive deal.

Earlier this month, National Consumer Fraud Week took place where Queensland police reminded people of the importance of keeping their credit card details and all other personal info safe.

While the economic crisis has ushered in a frenzy of interest rate cuts from the Reserve Bank of Australia, many credit card providers are flatly refusing to bring down rates on their credit cards.

Speaking to the Brisbane Times, Christopher Zinn, a spokesperson for consumer watchdog Choice, said that it was time banks and other lender brought out new cheap credit cards that took the RBA rate cuts into effect.

“The fact that they have actually failed to move significantly in terms of the reduction in the cash rate … does make us wonder why it hasn’t come down,” he said.

Earlier this month, Mozo alerted customers to another flaw with seemingly cheap credit card offers after research revealed that many cards come with hefty penalties if balance transfers aren’t paid off within the introductory period.

Interest rates were found to rise to as much as 19.99 per cent, Mozo found, with NAB, Commonwealth and Westpac among the main offenders.