Aussies are on top of their credit card debt

The latest Reserve Bank data on credit and debit card usage indicates that Australians are spending less on their cards and getting their debt under control.

The number of purchases on credit and charge cards was down 19.7 per cent in January 2016. The number of debit card purchases fell 13.7 per cent.

MWE Consulting said the average credit and charge card balance owing in January 2016 was $3114, down from $3192 in December 2015 and from $3198 in January 2015.

Source: Banking Day