Purchases on personal cards at record levels for the third month in a row. According to the latest Reserve Bank payments data, consumers made purchases worth A$25.7 billion in October, only a little below the $26.2 billion of spending recorded in August – the highest monthly spend on personal cards ever recorded by the RBA. Spending on credit cards fell to a multi-year low of $14.7 billion in April 2020, as COVID restrictions started to take effect.
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