Australian Credit Card Market
In recent years all areas of the Australian finance industry have seen some increased competition but perhaps no area more than the credit card sector. In the past few years hundreds of Aussie credit card options have launched offering consumers with a huge array of offers to choose from. Growth in the market Nowhere is the phenomenal growth more apparent than in the number of Australian cards. Figures from the Reserve Bank of Australia (RBA) show that at the end of 2005, there were 12.47 million card accounts were held in Australia, however, by the end of October 2008 (the latest month for which figures available at the time of writing), this number had grown to 14.27 million. This is an increase of 14.4% in nearly three years. The growth in total debt incurred through aussie cards is even more striking…
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Australian Credit Card Market
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