CONSUMERS are racking up debt on the plastic again as the impact of the federal government’s December stimulus package fades, lifting the total outstanding balances on credit cards to a record $45.4 billion.
Data released by the RBA today showed that credit card holders repaid just $16.8 billion of their outstanding debts in February, the lowest level in a year
Spending with credit cards was $17.1 billion in the month.
In January, cardholders repaid $18.1 billion while spending $16.6 billion, while in December they repaid a record $21.5 billion, albeit spending a $21 billion at the same time, also a record.