Australian credit card debt has struck a new record high of $50 billion, ballooning by almost a third in the past five years.
New figures from the Reserve Bank, published today, show outstanding credit card debt topped $50 billion for the first time in November, with $36.3 billion of the total is accruing interest.
With 15 million cards on issue, the average debt has reached about $3,333 per card, the figures show.
Read more: http://www.smh.com.au/business/credit-card-debt-swells-to-record-50-billion-20120112-1pwqe.html#ixzz1jD8CL7HQ
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