Scary but true – the facts on credit card debt in Australia
- The average amount of credit card debt per cardholder is $4,200.
- Over half a million Australians carry more than $5,000 in credit card debt.
- Around 2 million Australians, representing 27% of credit card users, did not pay off their personal credit card debt in full each month in 2013. This compares to 24% of credit card users in 2009 who did not pay their balances in full each month.
- Total balance held on credit cards with an interest-free period as of October 2014: $44.5 billion — an increase from the October 2013 total of $43.9 billion.
- Total balance held on credit cardswithout an interest-free period as of October 2014: $362 million — a decrease from the October 2013 total of $469 million.
- Total balance held on all credit cards and charge cards as of October 2014: $49.6 billion — a slight increase from the February 2013 total of $48.9 billion.