Original article by Cameron Micallef
The Australian – Page: 20 : 7-Jan-26

Australians’ credit card debt has increased every January since 2015. Canstar’s analysis of credit card data from the Reserve Bank suggests that consumers are likely to have spent about $86.8bn using credit cards since the start of November; based on trends over the last five years, an additional $28.9bn is likely to be spent using credit cards for the full month of January. Meanwhile, it is estimated that Australians now pay a combined $9.4m in credit card interest charges each day. Canstar notes that interest-free periods may be much shorter than the advertised length, depending on whether a purchase was made near the end of a card-holder’s billing cycle.

CORPORATES
CANSTAR PTY LTD, RESERVE BANK OF AUSTRALIA