Australians Rely Heavily on Credit Cards

Posted by Peter Brady on Thu 28th June 2007 at 08:26 AM, Filed in Credit News

A new survey down under suggests that a little over half of Australians would be almost paralysed without their credit cards.

According to The Citibank Payment Evolution Report, a survey of consumers in seven countries in the Asia-Pacific, found Australians were more credit card dependent than consumers in most major Asian economies.

This growing dependency on plastic seems to mirror a steep decline in cash across the western world.

Interestingly the report noted that:

“Australians were opposed to allowing credit cards to be used as personal identification, or as a way of paying off tax bills. Australians also had the least number of credit cards per person.”

The survey was taken from respondents in China, India, Hong Kong, Indonesia, Malaysia and South Korea.

China topped the poll with 70% saying they would be lost without their credit cards.

(Via Geelong Advertiser)

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