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Credit card debt up but slowing

Staff Reporter 1 minute read

Credit card expenditure continued to rise in October but borrowers are showing signs that they're becoming more cautious with debt.

The total value of Australians’ credit and charge card transactions rose in October to $19.418 billion, RBA data released yesterday revealed.

The average credit card balance however hiked just 4.7 per cent over the 12 months to October to just $3,135, the slowest growth rate since the RBA started measuring consumer credit card debt levels in 1985.

 

Credit card debt up but slowing
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