Use of Aussie credit cards 'on the rise'

A 1.9 per cent rise in credit card use was reported in Australia.

More purchases are being made in Australia using credit cards, according to the latest figures.

The country's central bank – the Reserve Bank of Australia – has compiled a series of findings on the nation's spending habits.

It noted that there has been an 18.9 per cent hike in the total number of transactions using debit cards over the course of the last 12 months, while there has also been growth in the use of credit cards.

However, one expert warned consumers are increasingly looking for the best credit deals as economic pressures set in.

Commsec economist Savanth Sebastian said: "The new conservatism appears here to stay and it is clear that consumers are continuing to do scour around for the best options when it comes to keeping the household budget in the black."

A spokesman for Candidmoney.com recently told of the high charges that can be associated with using a debit card, perhaps making a credit card a more attractive option.