Australian Credit Card Statistics

A credit is a convenient way of making payments. It serves as unsecured credit lines. For decades now, Credit cards have been a significant source of funding in Australia. But how many Aussies have a credit card? As of December 2019, there were approximately 15 million credit cards in Australia (source RBA). For Australians managing day to day, credit snd debt through their credit cards is part of their lives. Credit cards account for almost two-thirds of cashless transactions in Australia.


According to RBA ( Reserve Bank of Australia), Almost every Australian Adult owns a credit card. As per RBA statistics, Australians have had positive changes to their behavior over the past year. Furthermore, compared to the previous year, the number of Australian credit card accounts dropped by approximately 1.5 million.


What costs does a cardholder incur?

i)Annual fee- the general price of owning a credit card. Price range from 0 to hundreds of dollars, depending on the type of card.

ii)Interest- the cost you incur to borrow money. The interest rate on credit cards is often higher because they are unsecured. Be sure to clear your debt on time to avoid unnecessary interests

iii)Repayments- typically one is required to make a minimum repayment when the statement is issued, i.e. between 2-3 percent of the outstanding balance. Failure to honor rebates on time will attract “late payment fee”.

iv) additional fees- extra fee may include; cash advance fee, over-limit fee, and delayed payment fee.


Keep in mind that, interest on credit cards can only be imposed when the cardholder does not clear outstanding balance at the end of a statement period (Mostly one month). Additionally, if a balance from a statement period is not settled in full, then interest will be applied in the current balance, and any transaction made after the end of the statement period will attract interest. To know more about our website please visit