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Credit cards not so popular anymore

15/07/2011

The number of credit and charge card accounts are again slowing in growth.

Annual growth over the past 12 months has softened for the sixth consecutive month to 1.76 per cent in the 12 months to the end of May.

The total number of accounts was 14.870 million which was made up primarily by credit card accounts (13.685 million) with the remainder made up of charge cards and those issued to businesses (1.185 million).

Interestingly, of the consumer credit card accounts the vast majority (97.5%) have an interest free period. This has been a significant industry change over the past 16 years.

Source: MasterCard



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Institution Title Product Title Rate (%) Apply Button
Citibank Clear Card 15.99 Details
HSBC Credit Card - 0% BT for 8 months & No Annual Fee 17.99 Details
Woolworths Everyday Money Credit Card - 0% p.a. on purchases for 9 months 19.84 Details
Coles MasterCard 19.99 Details
David Jones American Express Card 20.74 Details
BP-Citibank MasterCard 20.89 Details
Citibank Rewards Credit Card - Classic 20.99 Details
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