Australians switch credit cards in record numbers
There has been a big jump in new credit card applications in the first three months of 2015 according to credit reference agency Veda.
Credit card applications jumped up 13.5 per cent in the March quarter 2015. That is biggest growth rate since 2006.
However Aussies are not taking on more debt, they are moving to better credit card deals.
Part of the large increase in credit card applications is churn in the market said Veda’s Angus Luffman.
Source: Mortgage Business