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SMH: Credit card debt swells to record $50 billion

#1 User is offline   cobran20 

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Posted 12 January 2012 - 06:57 AM

What i'd like to know is how many can't make their monthly repayments?

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Australian credit card debt has struck a new record high of $50 billion, ballooning by almost a third in the past five years.

New figures from the Reserve Bank, published today, show outstanding credit card debt topped $50 billion for the first time in November, with $36.3 billion of the total accruing interest.

With 15 million cards on issue, the average debt has reached about $3333 per card, the figures show.



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#2 User is offline   Mr Medved 

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Posted 12 January 2012 - 09:59 AM

Hey Wulfie, where's my credit card crash? Is it still on...?
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#3 User is offline   cobran20 

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Posted 12 January 2012 - 10:02 AM

View PostMr Medved, on 12 January 2012 - 09:59 AM, said:

Hey Wulfie, where's my credit card crash? Is it still on...?


It will have to wait - the greeks are using their credit cards to pay off their bond holders! :rolleyes:
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