Aussies comfortable with credit cards

Australian households are increasingly reining in credit card debt but remain concerned about a lack of savings, the size of their bills and the lack of investments outside the home.

The survey of more than 1000 households compiled by Galaxy Research shows 54 per cent of households are “very comfortable” with their credit card debt – the best result since the index was started early last year.

The median outstanding balance on credit cards is $1635, which is the lowest level since the survey began.

However 34 per cent of households report being "very uncomfortable" with their level of personal savings, the worst so far recorded. The median amount of savings in an Australian household now stands at $7812.

Source: The Australian