Roundup Newswires

Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network

Australians rack up record credit card spending as growing numbers struggle to pay off debt

Posted on February 7, 2025 by Admin

Reserve Bank statistics show the national credit card debt sits at $17.8bn, up $236m in December 2024 alone

Get our breaking news email, free app or daily news podcast

Australians racked up a record $28bn in personal credit card transactions in December, according to new data, leaving many households unable to clear debts and paying extreme interest charges.

The Reserve Bank statistics, analysed by financial comparisons site Canstar, show that Australians are struggling to clear purchases made on credit more than ever before amid persistently high living costs.

Mastercard ruling: almost every UK adult could receive payout

Posted on April 16, 2019 by Admin

Lawsuit could benefit 46 million people even if they have never owned the credit card

Almost every adult in the UK could receive a payout of up to £300 from Mastercard after a court ruling paved the way for a £14bn class action lawsuit.

The legal action taken by former financial ombudsman Walter Merricks claims that 46 million UK consumers paid higher prices in shops over a 16-year period because of allegedly excessive transaction fees charged by Mastercard.