New figures from the Reserve Bank of Australia reveal the nation’s credit card bill in January dropped $7.38bn on the same month a year ago, with the majority of people choosing to pay via debit rather than credit.
RateCity research director Sally Tindall said the drop was pleasing after credit card debt grew in the previous two months. “At the end of last year, the rate at which people were closing their credit card accounts looked like it was starting to plateau. However, in January there was another rise in the number people closing their accounts, reigniting the exodus away from credit cards.”
Lower the interest rates. Credit cards are so 2018...
I hate peep peep.
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