Increase in credit card spending 'for 30 to 64-year-olds during GFC'

A rise in salary payments and an increase in card spending both occurred for Australians aged between 30 and 64 years old, according to one bank.

Australians aged between 30 and 64 increased their credit card spending and had a rise in salary payments throughout the global financial crisis (GFC), according to the Commonwealth Bank.

The total effect on the age group was deemed to be "mild" throughout the economic troubles.

These findings come after the bank – which offers Commonwealth credit cards – launched Viewpoint, an inaugural economic vitality report in conjunction with NATSEM (University of Canberra).

Because the bank processes around 45 per cent of Australians' electronic transactions – which include Commonwealth Gold Card sales – it was able to form an overview of the nation's economy throughout the downturn.

Michael Blythe, chief economist at the organisation, said the period had a "divergent impact across different age groups in terms of perception as well as income and spending patterns".

Earlier this month the Sydney Morning Herald's Chris Zappone noted there had been a rise in the competition for rates on term deposits between banks, which he said was a knock-on effect from the GFC.

By Joe Letts