illion’s newest report, Credit Card Nation 3, confirms the COVID-19 pandemic has accelerated the decline of credit card use in Australia.

Using our ground-breaking inaugural Credit Card Nation report from March 2019 as a benchmark, illion has found Australia has lost a whopping 1.6 million credit cards – worth a staggering $11.6 billion in credit card limits.

While there was an average monthly net loss of 80,000 cards in the 11-month period before the pandemic hit, this number jumped to 116,000 cards lost per month in the first 4 months of the pandemic, an increase of nearly 50%.

To learn more, complete the form and download the report.