Credit Card Nation 2

Almost half a million Australians have cut up their credit cards in the last 12 months, despite the Reserve Bank of Australia (RBA) dropping the official cash rate to an historic low of 1 per cent, and suggesting further cuts may be just around the corner.

illion’s 2nd Credit Card Nation report highlights that there were 14.6 million credit cards in Australia in March 2019, down an extraordinary 462,000 cards, or 3.1 per cent from 12 months earlier.

Collectively, Australia’s credit card limit stands at $137.3 billion , or an average $9,390 per card , down from $141.6 billion4, in March 2018. The average per card remains unchanged.

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