Credit card debt tops $42 billion
25 February 2008
The Reserve Bank of Australia has issued its latest figures showing the total outstanding balance on credit and charge cards in Australia has risen to $42.698 billion in December.
An amazing 135.806 million transactions worth $19.250 billion were made leading up to Christmas compared with 122.081 million transactions worth $18.314 billion the previous month.
However, the data shows the rate at which credit card debt is accumulating is slowing.
Everybody's outstanding balance on their credit card went up with a 9.5 percent rise over the last 12 months.
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