Aussies love their credit cards again

Credit card applications grew strongly in the March quarter according to the latest Veda Consumer Credit Demand Index.

Veda's general manager of consumer risk, Angus Luffman, said: "The March quarter was the fourth consecutive quarter of growth for credit card applications, after two years of weakness."

Overall consumer credit demand (credit cards and personal loans) in the March quarter was 3.1 per cent higher than the previous corresponding period.

Source: Banking Day