Switch your credit card to save big bucks
Credit card users could save plenty of money by shopping around and switching to a lower rate card, because interest rates on cards range from 9.5 per to up to 23 per cent.
Reserve Bank of Australia statistics show that almost two-thirds of all credit card debt is attracting interest.
Australian Bankers' Association chief executive officer Steven Munchenberg said there's plenty of credit card options available for consumers.
"There's a lot of choice in the market place if customers are shopping for a credit card and the interest rate is the major consideration," he said.