ABS reveals rise in nation's credit card debts

The amount of money the nation owes via credit cards has increased over the years.

Figures from the Australian Bureau of Statistics (ABS) reveals that in 2005-06, around two-thirds of all Aussie households had some form of non-property related debt, with credit cards taking up the majority share of such borrowing.

And the amount of money outstanding on credit cards has increased with those households owing on their cards an average of $2,300, an increase from the $2,200 recorded in 2003-04.

However, findings from the ABS also reveal that lower-income households could be facing even greater credit card debts. Although the median amount owing for those less well-off Aussies owning a credit card stood at around $1,700 in 2005-06, for 18 per cent of such consumers - the equivalent of about 180,000 - at least $5,000 is owed.

This number also includes some 60,800 people who are $10,000 or more in the red.

Overall, some 58 per cent of lower income Aussie households were revealed to have at least one credit card.

The problems Aussie credit consumers are experiencing with cards can also be seen in Dun & Bradstreet figures showing that 23 per cent of people claim to have been late in meeting a demand for payment on a credit card bill over the past year.