One in four struggling with card debt

13/08/2012

One quarter of Australians struggle with their credit card debt according to big recent study by Nielsen.

Young people and those aged in their early forties are the most likely to be falling behind with repayments. Just 44 per cent of credit card holders aged between 40 and 44 years old pay off their cards in full each month.

Australian credit cards charge some of the highest interest rates in the world, averaging almost 22 per cent according to researchers at the University of NSW.

Source: Courier Mail