Our credit cards are under control

Australians seem to have their credit card accounts under control. The latest Reserve Bank lending data reveals no overall growth in consumer credit balances in July 2015. Consumer credit card debt has grown only 0.9 per cent over the 12 months to July 2015.

Australian Prudential Regulation Authority figures show credit card balances fell for the sixth month in a row, down by 1.5 per cent in July 2015.

Source: Banking Day