Revolvers paying off for banks

Efforts by credit card issuers to promote credit cards at lower rates of interest and aimed at customers who maintain a balance on their credit card appear to be succeeding, though it may be non-bank issuers who are reaping most of the spoils.
MWE Consulting, in the firm's monthly analysis of Reserve Bank of Australia payments card data, noted that the ratio of actual credit card balances to approved limits has increased gently but steadily over each month over the last six months, to 36.9 per cent from 36.4 per cent and is now at an all-time high. This ratio has otherwise been quite stable over the last three years. This trend presumably reflects energetic marketing of low rate, or zero interest rate, balance transfers that (until recently at least) produced a surge in applications for new credit cards.