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RBA credit card figures show Australians are continuing to pay down personal debt – NEWS.com.au
RBA credit card figures show Australians are continuing to pay down personal debt
Billions of dollars worth of credit card debt has been wiped away by everyday Australians who are turning their back on high interest-accruing lending products. New figures from the Reserve Bank of Australia reveal the nation’s credit card bill in January dropped $7.38bn on the same month a year ago, with the majority of people choosing to pay via debit rather than credit.
On a monthly basis, Australians paid off $149m in personal credit card debt-accruing interest, with the total outstanding amount…
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