Are you paying too much on your credit card debt?

Australian Bankers’ Association data shows that Australia’s total credit card debt is now $51 billion. That is down two per cent in the year to March 2015.

Of the $51 billion owed on cards, $33 billion is accruing interest.

Some credit cards are now charging interest rates as high as 26 per cent. If you are paying too much on your credit card debt, shop around for a low rate credit card or compare deals on the wide range of balance transfer deals now available.

Source: The Daily Telegraph

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