One quarter don’t repay their credit card on time
24 per cent of Australians repay less than or the minimum credit card repayment each month and those least likely to pay credit card bills in full are in the 40-44 age group (44 per cent) according to the Nielsen Global Survey of Investment Attitudes.
This is despite the fact that Australians earn more than anyone else in the world – highlighting the extremely high cost of living in the country.
Of the respondents in the 20-24 age group, only 47 per cent pay off their credit card bills in full each month, while those aged over 65 were the most diligent payers with 85 per cent paying off the card in full every four weeks.
Source: Herald Sun