Home / Banking / Credit Cards / Consumers choosing the savings button

Consumers choosing the savings button

21/12/2009

Average credit card balances fell $4 to $3,141 in October according to data released by the Reserve bank of Australia. The annual growth in credit card usage rose one per cent in October, while purchases made using debit cards and electronic funds transfer point-of-sale (EFTPOS) was 16 per cent higher.

CommSec economist Savanth Sebastian said consumers were not prepared to spend beyond their means and take on additional debt, even with Christmas approaching. "They are happy to use cash, they are happy to use debit cards, they certainly do not want to use credit cards," Mr Sebastian said. "It will be a trend that will remain in force until next year.”

Source: Herald Sun

Previous Article  Next Article



Today's Featured Credit Cards

 
 
 

Virgin Flyer Credit Card - 1.9% BT for 9 monthsFactsheet  >

Credit card image
  • 1.9% on purchases and balances transferred for 9 months.
  • Earn 1 Velocity Point per $1 spent up to $1,500 per month and then 1 Velocity Point for every $2 spent.
  • Buy a seat on Virgin Blue with your new Virgin Flyer Credit Card to receive a second seat free*, up to 4 times a year, every year.
  • $99 Annual Fee. Terms and Conditions apply.  Visit Virgin Money's website for conditions and full details.
Visit Site
 

Citibank Clear Platinum Credit Card (2.9% BT for 12 months) Factsheet  >

Credit card image
  • 11.99% p.a. for purchases (21.74% p.a. for cash advances).
  • Pay no interest on purchases and balances for the first 6 months.
  • Up to 55 interest free days.
  • Enjoy a half-price annual fee of $49 in the first year.
    Visit Citibank's website for conditions and full details.
Visit Site
 
 
 

Virgin No Annual Fee Credit Card Factsheet  >

Credit card image
  • 18.99% p.a. for purchases (20.99% p.a. for cash advances).
  • Up to 44 days interest free.
  • $0 annual fee. Ever.
    Visit Virgin’s website for conditions and full details.
  • Why pay an annual fee just to use your credit card?
  • Enjoy a 6 month balance transfer rate of 2.90% p.a. for qualifying balances on your old card.
  • Gain access to Virgin family offers.
Visit Site
 

 

Review Credit Cards Australia

Simply browse from the listings based on what type of card you want.

Low Rate Cards

Balance Transfer Offers

Introductory Rate Offers

Platinum & Gold Cards

Reward Cards

Business Cards

Browse by Brand

 



Credit Cards

Institution Title Product Title Rate (%) Apply Button
bankmecu Low Rate VISA 10.74 Details
NAB Low Rate Visa Card 13.24 Details
BOQ Low Rate Visa Card 13.49 Details
bankmecu VISA Credit Card 13.74 Details
Citibank Clear Card 15.99 Details
HSBC Credit Card - 0% BT for 6 months & No Annual Fee 17.99 Details
BP-Citibank MasterCard 20.89 Details
Institution Title Product Title Rate (%) Apply Button