We love credit again

Aussies spent more on credit cards, and paid off more of their credit balances, in September, new figures from the Reserve Bank show.

Australians spent $19.246 billion on their credit and charge cards in the month, up from $18.869 billion in August while repayments on credit cards rose 3.5 per cent in September to $19.602 billion.

Total credit card balances accruing interest fell during September.

Australians got more cash advances on credit cards (up 4.1 per cent in September) but they were for less money each time – the value of cash advances on credit and charge cards increased by just 0.7 per cent to $2.438 million.

Total EFTPOS purchases, including cashouts, fell two per cent to $11.645 billion, from $11.882 billion.

Source: Herald Sun