Debt deferred: 2 in 5 credit card holders delay paying down their balances
Millions of credit card holders may never get out of debt, according to new research by Finder.
A Finder survey of 1,034 Australians – 301 of whom have a credit card – found that 2 in 5 (40%) don't prioritise paying down their credit card debt.
That's an estimated 2.2 million credit card holders who are not making progress on their balances accruing interest.
Almost 1 in 3 (29%) admit they don't prioritise paying down their credit card debt as they give priority to other expenses first.
Worryingly, 1 in 10 (11%) say they can't afford to pay down their credit card debt.
Richard Whitten, money expert at Finder, said credit card debt is a growing problem for millions of Australians.
"This cycle of credit card spending and debt can be incredibly stressful and quickly snowball, causing you to pay far more than you originally borrowed.
"Every month you delay paying off your card balance, you are essentially giving more of your hard-earned money to the bank in interest."
Whitten said when credit card debt is left unchecked, it doesn't just affect your bank balance, it also impacts your ability to save and invest, and can also impact your credit score if you're late making repayments.
"If you feel like you are chasing Peter to pay Paul and struggling to get on top of your credit card debts, remember that there is help available.
"If your debts are snowballing, you can contact the National Debt Helpline for free financial counselling."
Whitten said you might also be able to move your credit card debt to a balance transfer card, which offers 0% interest on the debt for up to two years.
"The key is to focus on paying off your credit card balance and avoid making new purchases with the card, otherwise you end up in the same debt cycle for years.
"Setting a repayment plan and removing the card from your wallet and phone can help you get on top of it."
More than twice as many women (16%) say they can't afford to pay off their credit card debt as men (7%).
Do you prioritise paying down credit card debt?
| Yes | 60% |
| No, because I prioritise other expenses first | 29% |
| No, because I can’t afford to | 11% |
| Source: Finder survey of 1,034 respondents, 301 of whom have a credit card, August 2025 |  |
Methodology
- Finder's Consumer Sentiment Tracker is a monthly recurring nationally representative survey of more than 60,000 respondents.
- Figures in this release are based on 1,034 respondents, 301 of whom have a credit card, from August 2025.
- The Consumer Sentiment Tracker is owned by Finder and operated by Qualtrics.
- The survey has been running monthly since May 2019.
Ask a question