Australia's credit card debt continues to rise
17 January 2008
Reserve Bank of Australia figures released today show that credit card debt went up in November to $41.918 billion as consumers started shopping for their Christmas presents early.
Australian's paid a total of $17.822 billion in credit card payments in November, which was down from $18.775 billion repaid in October.
The number of cash advances for the month of November was down with only 3,021 at a value of $1.060 billion, compared to the 3245 cash advance transactions made in October worth $1.109 billion.
Australian's made $17.246 billion worth of credit card purchases, which was down from $17.689 billion made in October.
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