RBA notes credit card expenditure rise

Credit card use continues to increase, it has been revealed.

Figures published by the Reserve Bank of Australia (RBA) reveal that Aussies spent a total of $18.78 billion via credit and charge cards over the course of March.

Not only does such a figure represents an increase from the $17.13 billion recorded in February, it is also the second consecutive monthly rise.

Of March's total transaction figure, credit card purchases accounted for $17.74 billion, with cash advances on such cards rising 7.4 per cent over the course of the month to $1.034 billion, the largest increase to have taken place since December 2008.

However, as credit card expenditure has increased it also appears that people are evermore keen on getting to grips with their debt, a card repayments increased 17.5 per cent in March to $19.72 billion.

Meanwhile, the nation's total outstanding credit card balance has fallen one per cent to $44.35 billion.

In comments made earlier this month however, John Slack-Smith, chief operating officer at retailer Harvey Norman, told the Daily Telegraph that the firm's customers are using their credit cards less often.

Written by Joe Letts.