Credit card debt up but slowing

The total value of Australians’ credit and charge card transactions rose in October to $19.418 billion, RBA data released yesterday revealed.

The average credit card balance however hiked just 4.7 per cent over the 12 months to October to just $3,135, the slowest growth rate since the RBA started measuring consumer credit card debt levels in 1985.

You’re out of free articles for this month

Log in Sign up

To continue reading the rest of this article, please log in.

Username or Email

Password Forgot password?

Keep me signed in on this device.

If you check this box before you log in, you won’t have to log back into the website next time you return, even if you close your browser and come back later.

If you check the box above before you log in, you won’t have to log back into the website next time you return, even if you close your browser and come back later.

---

or

---

Login with a Passkey

Looking for more benefits? Become a Premium Member.

Create free account to get unlimited news articles and more!

Looking for more benefits? Become a Premium Member.

First Name

Last Name

Mobile

Email

Organisation Type

Mortgage or Finance Brokerage Mortgage or Finance Aggregator Accounting Firm Financial Advice Practice Real Estate Agent Property Manager Financial Institution Fund Manager Educational Institution or University Association, Institute or Not-for-Profit Government Insurance Provider Technology Provider Media, Consulting or Recruitment Other

By becoming a member, I agree to receive information and promotional messages from The Adviser. I can opt out of these communications at any time. For more information, please visit our Privacy Statement.

Need help signing up? Visit the Help Centre.

Written by Staff Reporter

Last Updated: 09 March 2022

Published: 19 December 2008