Despite increasing confidence about the economy, many Australians are still reluctant to increase their credit card debts.
"People are still more inclined to use their own money to make purchases rather than put it on credit," Commsec chief economist Craig James said.
Datamonitor senior analyst Harry Senlitonga said use of Visa and Mastercard debit cards was up 30% in the past 12 months, compared to 6.69% for credit cards. "Debit scheme cards give consumers the best of both worlds - accessibility of a credit card and they allow the consumer to use their own money," said Mr Senlitonga.
