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The Future of Credit Cards report 2022

Finder’s Future of Credit Cards report delves into the trends shaping credit cards and digital payments, including the decline of cash and rise of buy now pay later.

The Future of Credit Cards report

Picture not describedAustralia's credit landscape is changing and becoming more competitive than ever. The pandemic has accelerated many of the trends already underway in the industry, including declining credit card balances, more people using digital wallets and the shift to online shopping.

The Future of Credit Cards report explores the impact of COVID-19 on the credit card environment, how consumer demands are evolving and the trends shaping the future of lending. We look at generational differences in the demand for credit, and in particular the rise of buy now pay later among younger consumers. Finally, Finder's experts share their thoughts on how credit cards are changing and the future of the industry.

Download The Future of Credit Cards report.

Key statistics

  • 62% of Australians have a credit card
  • The average credit card holder needs 6.5 months to pay off their debt
  • 1 in 4 credit card holders couldn't manage their finances without a credit card
  • 1 in 10 Australians have been rejected for a credit card
  • 36% of credit card holders have switched cards in the past 5 years
  • 37% of credit card holders chose their card for the rewards points
  • 1 in 4 Australians plan to take out a credit card in the next 12 months
  • 1 in 3 Australians use a digital wallet
  • 5% of Australians have used buy now pay later in the past 6 months

Access the full report here.

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