Credit card debt drops below $20 billion

New RBA figures out today show Australians have slashed the national credit card bill to $19.71 billion in October – the first time debt accruing interest has dropped below $20 billion in almost 16 years.

Beware of the debt hangover this Black Friday

Australians are set to log on in record numbers to the Black Friday and Cyber Monday sales. But while retailers are promising customers big savings, RateCity.com.au is warning shoppers not to get carried away. 

A third of Australians are expected to spend this Black Friday weekend

Millions of Australians are readying to spend big during the ‘Black Friday’ weekend, even though they’ve spent recent months stockpiling savings and paying down credit card debt.

Afterpay versus credit cards: which is better for your finances

A younger generation of Australians are turning to Buy Now, Pay Later services to fund their spending. But two of the big four banks are stepping up to the plate, offering a no-interest credit card alternative to Afterpay and its competitors.

Credit card debt hits lowest level since 2004

Australians have wiped a total of $6.3 billion of debt accruing interest from their credit cards since COVID, according to new RBA figures released today.

CBA launches Australia’s second no interest credit card in as many days

Australia’s biggest bank, CBA, has announced a no interest credit card – the second of its kind in as many days.

NAB launches Australia’s first interest-free credit card

NAB has rolled out Australia’s first no-interest credit card to hit back at buy now pay later services.

Booming buy now, pay later causing money troubles for 1 in 3 users

Almost a third of people who use buy now, pay later services are finding themselves in financial trouble, according to RateCity research.

$5.5 billion credit card debt wiped out during COVID

Australians have wiped a total of $5.5 billion of debt accruing interest from their credit cards since the start of COVID-19, a drop of 20 per cent.

Buy now pay later usage drops off during COVID-19

Fewer Australians are using buy now pay later services during the pandemic, while credit cards are still preferred by most.