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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.

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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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