Subscribe to InfoChoice to receive

Special offers
Exclusive offers
Market data, trends and insights

ASIC launches credit card debt clock

ASIC launches credit card debt clock


ASIC today announced its MoneySmart website has a new debt clock that shows the credit card debt in Australia. Check out the clock at

Credit card debt peaks in the first quarter of each year after Christmas spending. At a typical interest rate of 15 to 20% the average person is paying around $800 in interest per year, much more than that for some people.

MoneySmart’s Delia Rickard said: “There are a million things you’d rather spend $800 on than credit card interest. Start working off the interest now so you can spend that unseen money on things you really want.”

Source: ASIC

Previous Article  Next Article


Find out more

Twitter Facebook

© InfoChoice Pty Ltd ABN 93 061 105 735 AFSL and Australian Credit Licence number 349445

Although we cover a range of products, providers and services we don't cover every product, provider or service available in the market. The information and products contained on this website do not constitute recommendations or suggestions to purchase or apply for any particular product. Products included on this site may not suit your personal objectives, financial situation or needs. Please consider whether it is appropriate for your circumstances, before making a decision to purchase or apply for any product. If you are considering acquiring any financial product you should obtain and read the relevant Product Disclosure Statement or other offer document prior to making an investment decision.

Go to top