There’s no two ways about it: Australia is a country that’s very familiar with credit cards. Australia has the world’s second highest rate of consumer credit per capita, at $89.71, according to the latest global financial analysis.
Global finance publication Moneyzine recently released a report which found Australia ($89.71 per capita) was second only to Switzerland ($127.39 per capita) when it came to personal debt.
Clearly we know the ins and outs of how to use a credit card. But how well do we know some of the other basics of being a cardholder? For instance, how well-versed is the average Australian when it comes to reading and deciphering their credit card statement?
If you’ve ever pondered all the figures, limits, summaries and warnings that are often included on your monthly credit card statement, we’ve put together a simple guide so that you can better comprehend the important elements and what to take away from them.