New Aussie record set for credit card spending

Consumers kept their credit and charge card spending in check throughout most of last year, but in December they gave the plastic a lash.

According to the latest Reserve Bank data, the value of purchases on credit and charge cards rose by 10.8 per cent in December.

The A$24.8 billion spent that month was the highest ever reported by the RBA and represented $1596 per card account. According to MWE Consulting, the average credit and charge card account balance was $3226.

Source: Banking Day