13.7 million Australians
While 13.7 million Australians currently have a credit card, some have run into difficulties accessing this form of credit. Of those who have been denied, unsteady income (36%) is the top culprit, followed by having too much debt (22%) and having a bad credit score (21%). Have you ever been rejected for the following?

What is a decent credit score Australia?

In Australia, your Equifax Score will be a number between 0 and 1200. A “good” credit score is between 622 and 725, a “very good” score is between 726 and 832 and an “excellent” score falls between 833 & 1200.

How much is the national debt in Australia?

There are 13,373,592 credit cards in Australia as of April 2021, netting a national debt accruing interest of $20.6 billion. For many Australians, managing credit and debt through credit cards is a common element of their day-to-day money habits, while for others a few bad mistakes have resulted in a downward debt spiral.

What’s the average interest rate on a credit card in Australia?

Take the average credit card debt that Australians have accruing interest (about $2,000, according to RBA data). Apply the average credit interest rate (17 per cent, according to financial data provider Canstar). Make the typical bank’s minimum repayments (2 per cent of the total per month or $20, whichever is higher, per Canstar).

Why do Australians have so much credit card debt?

For many Australians, managing credit and debt through credit cards is a common element of their day-to-day money habits, while for others a few bad mistakes have resulted in a downward debt spiral. But what does the state of Australia’s credit card debt actually look like? Australian credit and debit card statistics

How big is the credit card market in Australia?

We don’t compare all products in the market, but we’re working on it! There are 13,432,262 credit cards in Australia as of March 2021, netting a national debt accruing interest of $20.5 billion.