The decline of Australia's reliance on credit cards
Australia has now reached what many are calling peak card, as credit card usage in Australia declines at an accelerating pace and gives rise to the question - has the credit card outlived its usefulness?
Credit Card Nation takes a deep dive into Australian spending and payment patterns, the potential reasons behind a loss of interest in credit cards, and explores how changes in consumer behaviour will disrupt the credit and retail sectors.
- Millennials reject credit cards and embrace Buy Now Pay Later (BNPL) services
- Younger Australians are more likely to default than older Australians
- Significant differences exist in the spending patterns of Australian men and women
- Geographic breakdown reveals Canberra has the highest level of credit card ownership per person
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