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New RBA figures show a concerning rise in the level of credit card debt accrued by Australians – NEWS.com.au
New RBA figures show a concerning rise in the level of credit card debt accrued by Australians
Australians have racked up more than $200m in personal debt over the Christmas period, bucking the trend in recent months of a declining use of credit cards within the countrys payment system. Latest payment data from the Reserve Bank of Australia shows $205m of new debt was added to credit card balances over December, a 1 per cent increase on the previous month.
According to the RBA data, balances accruing interest at the end of the month hit $20.16bn.
It also recorded an 8 per cent, or $1.8bn,…
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