Nearly 37% of Aussie households have credit card debt

It is more common to have credit card debt than owe money for your mortgage, one report has revealed.

It has emerged that nearly 37 per cent of Australians have credit card debt.

Figures from the Melbourne Institute revealed that there were more people in Aussie credit trouble than with mortgage debt (less than 34 per cent) in the June quarter for the first time since 2006.

A researcher at the organisation Edda Claus told ABC that the result has come as some concern because the interest rate on credit cards is usually fairly high.

She added: "Savings rates increased quite dramatically during the global financial crisis, consistent with people suddenly saving because they were afraid they might lose their job."

But the amount of people saving household income has risen to 49 per cent, compared to 46 per cent in the March quarter.

This news comes after it was announced that Australians made more than $1.04 billion worth of cash withdrawals on their charge and credit cards in March, according to the Reserve Bank of Australia, News Limited Newspapers reported.

By Joe Letts