Credit Card Debt 1994 to 2009

According to figures from the Reserve Bank of Australia, the following shows the growth of Credit Card Debt in Australia, on an annual basis, taken in October each year.

Year : Total of all Credit Card Balances : Average Card balance
Oct-94 $5,267,000,000 = $805 ave balance per card
Oct-95 $6,080,000,000 = $890 ave balance per card
Oct-96 $7,139,000,000 = $972 ave balance per card
Oct-97 $8,189,000,000 = $1,053 ave balance per card
Oct-98 $9,558,000,000 = $1,162 ave balance per card
Oct-99 $11,819,000,000 = $1,362 ave balance per card
Oct-00 $14,312,000,000 = $1,531 ave balance per card
Oct-01 $17,020,000,000 = $1,772 ave balance per card
Oct-02 $20,123,000,000 = $2,187 ave balance per card
Oct-03 $22,721,000,000 = $2,388 ave balance per card
Oct-04 $25,716,000,000 = $2,508 ave balance per card
Oct-05 $29,396,000,000 = $2,642 ave balance per card
Oct-06 $34,226,000,000 = $2,866 ave balance per card
Oct-07 $37,554,000,000 = $3,004 ave balance per card
Oct-08 $40,029,000,000 = $3,082 ave balance per card
Oct-09 $41,127,000,000 = $3,119 ave balance per card

As at October 2009 there were 13.1 million Credit cards in use.

The above data was extrapolated from this RBA spreadsheet: http://www.rba.gov.au/payments-system/resources/statistics/rps.xls

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