Australian credit card holders are paying off their card debts faster than ever before.
According to new figures released on last Friday by Mastercard, approximately 70.8% of card debt is currently accruing interest, the lowest level in more than one year. Consumers are also more reluctant to make cash advances on their cards, wth cash advances falling 13% compared to one year ago. The growth in credit card limits has also slowed to just 3.5% in 2009 - down from 12% the year before.
