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ISCOVER
Staff Reporter
A majority of Australians believe that spending money on their credit card is not 'real', new research has revealed.
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According to data from CreditCardFinder.com.au, 83.9 per cent of the more than 1,000 Australians surveyed believe debt on their card isn’t real debt.
Women seem to be less in touch with reality when it comes to credit card spending, with a whopping 85.7 per cent saying that spending on their credit card felt like “free money.”
And when it comes to frivolous spending, Victorians emerged as the biggest culprits, with 33.3 per cent viewing spending on their card like a game of Monopoly.
CreditCardFinder.com.au publisher Jeremy Cabral said with credit card debt in Australia close to $50 billion, consumers should consider the best credit card suited to their spending habits.
“Many people applying for their first credit card view this as a free source of money in addition to their salary. But be warned, this money is real and you will be required to pay every cent back. Plus interest. That’s why it is vital to make an informed decision when choosing a card and bear in mind monthly repayments,” he said.
