AUSTRALIANS SPEND RECORD A$22 BLN ON CREDIT AND CHARGE CARDS

MELBOURNE, Feb 12 (Bernama) -- Australians spent a record A$22 billion on credit and charge cards in the lead-up to Christmas last year.

The total value of credit and charge card transactions, including advances,
rose by 10.03 per cent in December 2009, Reserve Bank of Australia (RBA) said.

Australians spent A$22.02 billion on credit and charge cards in the month,
up from A$20.012 billion in November 2009.

The number of credit card purchases hit A$21.1 billion in the same month,
from A$20.012 billion in November, while the value of cash advances on credit
and charge cards fell by 0.06 per cent to A$948 million.

The growth in credit card account balances over the year to Dec 31 was 3.37
per cent.

In a sign that consumers are generally spending within their means,
repayments on credit cards rose 10.25 per cent in December 2009 to A$21.532
billion, the RBA figures showed.

The average credit card account balance was A$3,251 in December, compared
with A$3,196 in November, and A$3,145 in December 2008.

-- BERNAMA