Australian Credit Card Debt Sputters

Australian Credit Card Debt Languishes as Consumer Confidence Wanes But Credit Card PDV Marches Upward

Australian credit card debt growth is sluggish while credit card usage is continues to grow slowly. Credit card outstandings grew 0.8% year-on-year (YOY) in July, while credit card purchase dollar volume (PDV) rose 7.2% YOY. According to figures released yesterday by the Reserve Bank of Australia (RBA), credit card credit limits were flat in July…