The value of credit and charge card transactions, including advances, has increased by 3 percent in April. During the same month, Australians spent USD 17.66 billion on their credit and charge cards, while in March they spent USD 17.14 billion.

Total credit and charge card balances outstanding grew by 1.4 percent and reached USD 43.64 billion, from USD 43.04 billion reported in March. Balances accruing interest climbed 3 percent to USD 31.65 billion in April, as compared with USD 31.24 billion in March. Credit card repayments declined by 0.8 percent from USD 17.67 billion in March, registering USD 17.53 billion in April. The number of credit and charge accounts reached 14.14 million in April, increasing by 0.4 percent from 14.08 million in March. The number of purchases via credit cards grew by 2.2 percent to 115.36 million in April, compared with 112.87 million in March. By value, credit card purchases grew by 3.3 percent, reaching USD 16.60 billion in April from USD 16.07 billion in March. The number of cash advances on credit and charge cards reached 2.87 million in April, dropping by 1.3 percent from 2.91 million in March. The value of cash advances on credit and charge cards declined by 2.1 percent to nearly USD 1.054 billion in April, as compared with USD 1.077 billion reported in March. Total credit and charge card balances outstanding climbed by 10.1 percent over the past 12 months, compared with an average of 13.8 percent over the last five years. Total credit card repayments increased by 14.2 percent over the past 12 months, compared with an average of 8.6 percent over the preceding five years.

The figures were released by the Reserve Bank of Australia.