Australians borrowing more on their credit cards

Peter Terlato 12 September 2016

EFTPOS credit card machine

Personal finance credit, loans and commitments rise.

New statistics reveal personal finance lending commitments rose in July, suggesting Australians are borrowing and spending more on their credit cards.

The latest Australian Bureau of Statistics (ABS) lending finance figures show a 3.6% month-on-month increase in total personal finance commitments for July 2016.

Total commitments rose to $7.134 billion in July.

Personal finance is money provided to individuals for non-business use.

Included in this category are fixed loans (9.8%) and revolving credit (0.3%) finance, both up month-on-month.

Earlier we reported the value of Australian home loans slipped 1.8% in July, lead by a 3.1% drop in owner-occupied housing value.

The value of commercial finance commitments – finance for business or investment purposes – fell 1.7% to $37.759 billion.

Lease finance fell sharply in July, down 8.7% to $491 million.

From bonus reward points to 0% interest rates and reduced annual fees, discover exclusive, limited time offers and deals for credit cards.

Compare a range of different credit cards, personal loans and debt consolidation transfers to improve your finances.

Want more help? We've hand picked the 25 most badass personal finance blogs and the 10 best personal finance books.

Latest credit card headlines

Picture: Shutterstock

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the privacy policy, receive follow up emails related to and to create a user account where further replies to your questions will be sent.

Ask a question