Credit cards are being managed better than ever
Reserve Bank data shows that consumers are spending more on credit cards but not accruing debt. They are managing their cards and taking advantage of zero rate balance transfer offers. Credit card applications are up 15 per cent.
Recent rate cuts have made Australians feel better about their financial situation. However it seems consumers are increasingly being attracted to switch to better deals or zero rate balance transfer offers said Veda's Angus Luffman. “Extended zero rate balance transfers, zero purchase rates and bonus reward points are encouraging consumers to shop around.”
Source: Banking Day