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Australians Increasing Shifting Away From Credit Cards For Debit Cards

Australians are increasingly shifting away from credit cards and using debit cards for their spending instead as they seek to cut down on their expenses.

According to a news report in the Sydney Morning Herald, purchases made using debit card rose by 25.8 per cent year on year, representing the fastest growth rate ever recorded.

Analysts says that Australians are becoming increasingly savvy and are focusing on obtaining the best deal and getting good value for money, in response to the financial crisis and since then higher interest rates

Recently the Australian central bank published data which suggests that Australians spend many millions of dollars every year simply checking bank balances at ATM’s.

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