Credit Card Crunch

Australians owe $44 billion on credit card debts and as the cost of living spirals out of control. Credit card interest rates have continued to rise.

The rate rise of 15 Australian credit card offers was 2.23% for cash and 3% for cash advances. As a result of these increases has been to push the average overall purchase interest rate on 153 Australian credit cards to 16.64% (up from 16.55%) and to 17.99% (up from 17.88%) on cash advances.

So which credit cards offer the best deals and which ones should we be steering clear of? The answer is none of them.

If you are struggling paying off your mounting credit card debts, speak to our debt consultants. We have debt solutions for you and get you out of debt within 36-48 months. The repayment can be arranged to suit your financial capacity. Conditions apply.

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