In 2009 Australians had more than 16 million credit cards.
For a country of 23 million people that is a staggering number.
The total debt Australians owe (including home loans, personal
loans, credit cards, etc) is about $1.2 trillion.
Are You In Trouble with Credit Card Debt?
It's not hard to get in over your head with credit card
debt. All it takes is a few bad decisions or an emergency
that ends up on your credit card, and suddenly you find
yourself drowning in an ocean of credit card debt. According
to the Reserve Bank of Australia, the average Australian
keeps a credit card balance of $3,141. In 2009, Australians
swiped their charge cards for a total of almost $20 billion.
Will Credit Card Consolidation Help You?
If you are one of the individuals drowning in credit card
debt, there's something positive you can do – you can look
into credit card consolidation. When you consolidate all your
credit card debt, you can often save money over the long run.
You may wish to investigate a credit card loan consolidation
in which multiple credit card and store charge card debts
can be replaced by one monthly loan payment. Depending upon
your own situation, this solution may drastically reduce the
amount of interest you pay each year to your various credit
As the statistics above point out, Aussies everywhere are
up to their ears in credit card debt – you're certainly
not alone. However, you don't have to suffer in silence.
Take action to consolidate your debts into one low monthly
payment. When you realize how much money you could save,
you'll be glad that you did!
Now for Credit Card Consolidation