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Credit Cards in Australia
Reserve Bank of Australia, or better known as RBA is the central bank of Australia. The RBA main responsibility is monetary policy.
The Autralia central bank is an active participant in financial markets, manages Australia's foreign reserves, issues Australian currency notes and serves as banker to the Australian Government.
In accordance to RBA credit and charge card statistics, there are 14,807,113 of cardholders in Australia as at December 2010. As of December 2011, there are 15,025,745 of cardholders in Australia.
This shown the number of cardholders has increased by 218,632 or 1.48% in 12 months period.
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Get the best card credit offers Australia of your choice and enjoy the benefits and rewards today!
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Here is a small list of popular credit cards in Australia.
An easy way to help you get your credit card under control
Take control of your finances by paying a low interest rate on your everyday credit card purchases.
Key Features:
0% p.a. on purchases and balances transferred for the first 3 months(Offer ends 12.06.2012)
Low interest rate of 13.39% p.a. on purchases
Up to 3 additional cards at no extra cost
Up to 55 days interest free credit on purchases
Online Shopping guarantee
MasterCard applause™ - be entertained with exclusive tickets to theatre, dance, musicals and sporting events
MasterCard Travel Exclusives - special offers and great deals, simply for being a MasterCard cardholder
ANZ Falcon™ – provides advanced around the clock monitoring for suspicious transactions. So you can feel secure about purchases online, overseas or over the phone
‘Apply Now’ for ANZ Low Rate MasterCard and receive a response in 60 seconds. You don’t need to be an ANZ customer to apply for an ANZ Low Rate MasterCard. Terms & conditions available on application. Fees & charges apply.
Introducing the new Virgin Low Rate Credit Card
The average credit card purchase rate Australians are paying is 16.67%p.a.
Check yours and compare it to the Virgin Low Rate Credit Card.
Here's the low down:
A low 12.99% p.a. interest on purchases, a lower standard purchase rate than the big four banks.
A 2.9% p.a. balance transfer rate for the first 9 months, reverting to the cash advance rate after 9 months.
Whether your favourite band's finally in town, you're invited to a fun weekend away, or you're living it up overseas, ANZ First Visa could make it easy to go with the flow - whatever pops up in your world.
2.9% p.a. on balances transferred for the first 12 months(Offer ends 12.06.2012)
Up to 44 days interest free credit on purchases
Up to 3 additional cards at no extra cost
90 day purchase security for loss, theft, damage or breakage.
Extended warranty on most purchases.
Design your card by simply loading your favourite image or choose from a library of images
Convenience of Visa acceptance at over 29 million locations worldwide
ANZ Falcon™ – provides advanced around the clock monitoring for suspicious transactions
Online Shopping guarantee
Access to exclusive offers through Visa Entertainment
‘Apply Now’ for ANZ First Visa and receive a response in 60 seconds. You don’t need to be an ANZ customer to apply for an ANZ First Visa card. Terms & conditions available on application. Fees & charges apply.
Receive 10,000 Bonus Qantas Frequent Flyer points5. Apply by 12 June 2012
Earn Qantas Frequent Flyer points from everyday purchases
Product Features:
Uncapped Qantas Frequent Flyer points earning1
Earn 1 point1 per $1 spent on purchases using your ANZ Frequent Flyer American Express® card, to maximise your points earning
Earn 1 point1 per $2 spent on purchases using your ANZ Frequent Flyer Visa card, with the convenience of 29 million locations worldwide
Qantas Frequent Flyer Points automatically credited to your Qantas Frequent Flyer account each month
Up to 44 days interest free credit on purchases2
Total annual fee of $953
19.89% p.a. on purchases and 20.99% p.a. on cash advances4.
‘Apply Now’ for ANZ Frequent Flyer and receive a response in 60 seconds. You don’t need to be an ANZ customer to apply for an ANZ Frequent Flyer credit card account.
Terms and conditions available upon application. Fees and charges apply. All applications for credit are subject to ANZ's credit assessment criteria.
1. Points and Bonus Points accrue in accordance with the ANZ Frequent Flyer Reward Terms and Conditions (please call 13 13 14 for a copy). Purchases exclude cash and cash equivalent transactions. An Account Holder must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Frequent Flyer points. A joining fee applies. Membership of the Qantas Frequent Flyer
program is subject to the Terms and Conditions of the Qantas Frequent Flyer program. This Points information displayed on this page applies to new customers only. Existing customers may be subject to a different Points earn rate on both their ANZ Frequent Flyer American Express® card and/or ANZ Frequent Flyer Visa card. Existing customers should call 13 22 73 for information
regarding the Points earn rate that applies to their account.
2. Interest free days do not apply if you do not pay your Closing Balance (which includes any outstanding balance transfers, cash advances, purchases and Promotional Plans) in full by the due date each month. Payments to your account are applied in the order set out in the ANZ Credit Cards Conditions of Use.
3. For ANZ Frequent Flyer a Total Annual Fee of $95 applies which includes a $40 Annual Account Fee and a $55 Rewards Program Services Fee. For additional cardholders an Additional Cardholder Fee of $10 and Rewards Program Services Fee of $55 apply per additional cardholder on the account. The Total Annual Fee information displayed on this page applies to new customers only.
Existing customers may be subject to a different Total Annual Fee and should call 13 22 73 for information regarding the Total Annual Fee that applies to their account.
4. Standard variable interest rate is 19.89% p.a. on purchases and 20.99% p.a. on cash advances as at Friday, 27 April 2012 and is subject to change.
5. Offer available to new and approved applicants who apply for an ANZ Frequent Flyer credit card by 12 June 2012. Not available in conjunction with other offers, packages or promotions or when you transfer or close an existing ANZ credit card. The 10,000 Bonus Qantas Frequent Flyer points offer applies only once per new ANZ Frequent Flyer account. Your application must be
approved to receive the Bonus Qantas Frequent Flyer points and these will be credited to your account within three months of first spend. If you transfer or cancel your new ANZ credit card account before the introductory Bonus Points are processed to your account, you may become ineligible for these Bonus Points. Points and Bonus Points accrue in accordance with the ANZ
Frequent Flyer Reward Program Terms and Conditions. An Account Holder must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Frequent Flyer points. A joining fee may apply. Membership of the Qantas Frequent Flyer program and the earning and redemption of points is subject to the Terms and Conditions of the Qantas Frequent Flyer program. ANZ will
not be liable for any loss or damage whatsoever resulting from a delay in the process of receiving and/or approving application.
American Express is a registered trademark of American Express. The ANZ Frequent Flyer American Express card is issued by Australia and New Zealand Banking Group Limited (ANZ) pursuant to a license from American Express.
Exclusive offer - $50 annual fee for the first year*, that’s a saving of $49. This offer is only available if you apply by 31 July 2012.
An impressive balance transfer rate of 1.9%p.a. for the first 12 months, reverting to the cash advance rate after 12 months.
You'll earn 1 Velocity Point per $1 spent up to $1,500 per month and then 1 Velocity Point for every $2 spent. Redeem your Velocity Points for more flights or other great rewards.
Buy a Virgin Australia domestic seat and we’ll give you a complimentary seat on the same flight up to 4 times every year! Just cover the credit card booking fees. Flights subject to availability, conditions apply.
A low balance transfer rate of 1.9% p.a. for the first 6 months, reverting to the cash advance rate after 6 months.
You'll earn 1.25 Velocity Points per $1 spent, uncapped!
Buy a Virgin Australia domestic seat and we’ll give you a complimentary seat on the same flight up to 4 times every year! Just cover the credit card booking fees. Flights subject to availability, conditions apply.
Complimentary International Travel Insurance for you and your family.
Enjoy our highest level of service, with your very own personal concierge.
Two cards. One account. More Reward Points
With ANZ Rewards, you get the points earning power of two cards. And for total convenience we've kept it simple with one shared account, one Total Annual Fee, one monthly account statement and one credit limit for both cards. Earn rates apply for new applicants only.
ANZ Rewards
10,000 Bonus Reward Points(Apply by 12 June 2012)
Earn 2 Reward Points for every $1 spent on purchases using your ANZ Rewards American Express® card
Earn 1.5 Reward Points for every $1 spent on purchases using your ANZ Rewards Visa card
Redeem Points for a huge selection of rewards including Shopping Vouchers, Gift Cards, Merchandise, Flights, Cash Back and much, much more
No points capping
Up to 44 days interest free credit on purchases
Interest rate of 19.89% p.a. on purchases and 20.99% p.a. on cash advances
Total Annual Fee of $89 for new applicants
ANZ Rewards Platinum
20,000 Bonus Reward Points(Apply by 12 June 2012)
Earn 3 Reward Points for every $1 spent on purchases using your ANZ Rewards Platinum American Express® card
Earn 1.5 Reward Points for every $1 spent on purchases using your ANZ Rewards Visa Platinum card
Redeem Points for a huge selection of rewards including Shopping Vouchers, Gift Cards, Merchandise, Flights, Cash Back and much, much more
No points capping
Up to 55 days interest free credit on purchases
Interest rate of 19.89% p.a. on purchases and 20.99% p.a. on cash advances
Total Annual Fee of $149 for new applicants
Overseas Travel and Medical Insurance
ANZ Car Rental Cover
Extended Warranty and 90-day Purchase Security Insurance
Commission-free travellers cheques through ANZ Branches in Australia
‘Apply Now’ for ANZ Rewards and receive a response in 60 seconds. You don’t need to be an ANZ customer to apply for an ANZ Rewards credit card account. Terms & conditions available on application. Fees & charges apply.
Extended Warranty on major personal and household purchases
Best Price Guarantee on personal goods purchased in Australia
Discounted flexible payment options:
Plan and pay for your travel in a way that suits you. For purchases such as airfares, hotels or travel agents costing over $500 in a single transaction, you can choose one of two flexible options. Either:
Discounted interest rate of 9.99% p.a. on purchases for 6 months; or
Make repayments in set monthly installments over 6, 12 or 18 months at the discounted rate of 9.99% p.a.
Platinum Concierge:
ANZ's Platinum Concierge service is like having your very own 24/7 personal travel assistant. You can call at any time, from anywhere in the world and they can help plan one-of-a-kind experiences including:
Locating, purchasing and delivering tickets for theatre shows, concerts and sporting events worldwide
Arranging hotel and restaurant referrals and reservations
Making car rental, limousine and car service referrals and reservations
Even helping you re-schedule if your plans are altered or your fights are delayed or disrupted
‘Apply Now’ for ANZ Platinum credit card and receive a response in 60 seconds. You don’t need to be an ANZ customer to apply for an ANZ Platinum credit card. Terms & conditions available on application. Fees & charges apply.
Aussie now offers Personal Loans for just about anything you like.
Whether for a holiday, home renovations, a special project or even a wedding, a Personal Loan from Aussie can help you pay for any worthwhile purpose. It’s even a smart way to take control of your credit card debt.
Great rates so that you don't pay more than you need to
Fixed monthly repayments make it easier to stick to a budget
You set the term of the loan so you’ll have repayments you can afford
Fixed loan term so that you're set to repay your debt and not let it drag on forever
Receive 20,000 Bonus Qantas Frequent Flyer points5. Apply by 12 June 2012
Enjoy platinum benefits and accelerate your points earning with ANZ Frequent Flyer Platinum
Product Features:
Uncapped Qantas Frequent Flyer points earning1
Earn 1.5 points1 per $1 spent on purchases using your ANZ Frequent Flyer American Express® card, to maximise your points earning, with the convenience of 29 million locations worldwide
Earn 1 point1 per $2 spent on purchases using your ANZ Frequent Flyer Visa card
Qantas Frequent Flyer Points automatically credited to your Qantas Frequent Flyer account each month
Overseas Travel and Medical Insurance2
Up to 55 days interest free credit on purchases3
Minimum credit limit of $6,000
Extended Warranty on purchases: when you make an entire purchase of goods on your ANZ Frequent Flyer Platinum credit card account this offer doubles the manufacturer’s expressed Australian warranty (by up to 12 months)5.
90-day Purchase Security Insurance4 - Insurance against loss, theft or breakage over a range of new personal items when the purchase is charged to your ANZ Frequent Flyer Platinum credit card.
Earn points faster with two cards, one account and only one total annual fee:
The ANZ Frequent Flyer Platinum credit card account gives you combined earning power of two cards on one account.
Use your ANZ Frequent Flyer American Express® Platinum card whenever you can to pay for purchases like groceries, petrol and movies to earn the most points possible.
Use your ANZ Frequent Flyer Visa Platinum card everywhere else - accepted in 29 million locations worldwide.
You can also receive up to 2 Bonus Points2 for every dollar spent at ANZ Bonus Partners.
‘Apply Now’ for ANZ Frequent Flyer Platinum and receive a response in 60 seconds. You don’t need to be an ANZ customer to apply for an ANZ Frequent Flyer credit Platinum card account.
Terms and conditions available upon application. Fees and charges apply. All applications for credit are subject to ANZ's credit assessment criteria.
1. Points and Bonus Points accrue in accordance with the ANZ Frequent Flyer Reward Terms and Conditions (please call 13 13 14 for a copy). Purchases exclude cash and cash equivalent transactions. An Account Holder must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Frequent Flyer points. A joining fee applies. Membership of the Qantas Frequent Flyer program is subject to the Terms and Conditions of the Qantas Frequent Flyer program. This Points information displayed on this page applies to new customers only. Existing customers may be subject to a different Points earn rate on both their ANZ Frequent Flyer American Express card and/or ANZ Frequent Flyer Visa card. Existing customers should call 13 22 73 for information regarding the Points earn rate that applies to their account.
2. Overseas Travel and Medical Insurance is underwritten by Chartis Australia Insurance Limited ABN 93 004 727 753, AFSL Licence No. 381686 (Chartis). Terms and conditions apply. To be eligible for Platinum Overseas Travel and Medical Insurance, you must be a permanent resident of Australia, pay at least $250 worth of your overseas travel arrangements using your Platinum card account prior to departing Australia, have a return ticket to Australia within 6 months of departure and be 80 years of age or under.
3. Interest free days do not apply if you do not pay your Closing Balance (which includes any outstanding balance transfers, cash advances, purchases and Promotional Plans) in full by the due date each month. Payments to your account are applied in the order set out in the ANZ Credit Cards Conditions of Use.
4. Extended Warranty and 90-day Purchase Security Insurance are underwritten by Zurich Australian Insurance Limited. Terms and conditions apply. For more information please call 13 1314.
5. Offer available to new and approved applicants who apply for an ANZ Frequent Flyer Platinum credit card by 12 June 2012. Not available in conjunction with other offers, packages or promotions or when you transfer or close an existing ANZ credit card. The 20,000 bonus Qantas Frequent Flyer points offer applies only once per new ANZ Frequent Flyer Platinum account. Your application must be approved to receive the bonus Qantas Frequent Flyer points and these will be credited to your account within three months of first spend.
If you transfer or cancel your new ANZ credit card account before the introductory Bonus Points are processed to your account, you may become ineligible for these Bonus Points. Points and Bonus Points accrue in accordance with the ANZ Frequent Flyer Reward Program Terms and Conditions. An Account Holder must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Frequent Flyer points. A joining fee may apply. Membership of the Qantas Frequent Flyer program and the earning and redemption of points is subject
to the Terms and Conditions of the Qantas Frequent Flyer program. ANZ will not be liable for any loss or damage whatsoever resulting from a delay in the process of receiving and/or approving application.
Total Card Transactions and Credit Limits
Total credit and charge card transactions for year 2010 is A$239.48 billion(1,600,898,000 number of transactions), with rollover balance of A$49.27 billion. The A$239.48 billion transactions are made up of A$11.12 billion cash advances(27,941,000 number of transactions) and A$228.36 billion purchases(1,572,957,000 number of transactions).
Whereas the total card transactions for year 2011 is A$248.93 billion(1,682,171,000 number of transactions), with rollover balance of A$50.34 billion. The A$248.93 billion transactions are made up of A$10.14 billion cash advances(26,220,000 number of transactions) and A$238.79 billion purchases(1,655,950,000 number of transactions).
Overall, the total card transactions increased by 3.95%, and rollover balance increased by 2.17% in 12 months period. The cash advances transaction has decreased by 8.81% while the purchases transaction has increased by 4.57% in the same period.
The average value per purchase transaction has increased from A$145.18 in 2010 to A$144.2 in 2011, which means credit and charge card is used for slightly smaller amount purchases.
The amount of credit limits issued for credit and charge card in Australia as at December 2010 is A$134.07 billion. As at December 2011, the total credit limits in Australia is A$137.31 billion. An increased of A$3.24 billion or 2.42% is observed.
Market Share(purchases percentage) for Credit and Charge Card
For December 2011, 84.1%(in numbers) of purchases are made with MasterCard and Visa
while the rest of purchases, 15.9% are made with American Express and Diners Club. However, the purchases percentage in value is higher for American Express and Diners Club
with 19.9% in total during the same period while the rest of the purchases, 84.1% are made with MasterCard and Visa.
Credit Cards Fraud in Australia
In 2010, there are 728,827 cases of credit and charge card fraud perpetrated in Australia and overseas on Australian-issued cards, with a total value of A$172,535,804.
The number of fraud increased significantly by 130,621 cases or 21.84% compares to 598,206 cases in 2009. The total value has only increased significantly by A$25,752,265 or 17.54% compares to A$146,783,539 in 2009.
There are 263,662 fraud cases perpetrated in Australia on Australian-issued cards with a total value of A$66,651,229, an increase of 63,456 cases or 31.7% compares to 200,206 in 2009; while the total value has decreased by A$6,420,159 or 10.66% compares to A$60,231,070 in 2009.
This figure can be further brokendown as:-
33,223 of Lost/ Stolen cases with a total value of A$7,055,957, a decrease of 3,737 cases or 10.11% compares to 36,960 in 2009; and the total value has also decreased by A$564,940 or 7.41% compares to A$7,620,897 in 2009.
7,596 of Never Received cases with a total value of A$1,917,529, a decrease of 2,981 cases or 28.18% compares to 10,577 in 2009; and the total value has also decreased by A$837,160 or 30.39% compares to A$2,754,689 in 2009.
1,963 of Fraudulent Application cases with a total value of A$918,080, a decrease of 856 cases or 30.37% compares to 2,819 in 2009; and the total value has also decreased by A$673,255 or 42.31% compares to A$1,591,335 in 2009.
26,288 of Counterfeit/ Skimming cases with a total value of A$11,459,164, a decrease of 3,527 cases or 11.83% compares to 29,815 in 2009; and the total value has also decreased by A$3,588,270 or 23.85% compares to A$15,047,434 in 2009.
191,936 of Card Not Present (CNP) cases with a total value of A$44,409,959, a significant increase of 76,260 cases or 65.93% compares to 115,676 in 2009; and the total value has also increased significantly by A$12,753,722 or 40.29% compares to A$31,656,237 in 2009.
CNP continues to be the major category of fraud cases perpetrated in Australia on Australian-issued cards with 72.8% contribution factor(compares to 57.78% contribution factor in 2009). A worrying sign considering with the constant, huge increase year-by-year in CNP fraud cases.
Nevertheless, this is inline with the robust online shopping activities where there is no physical present of the card is required.
2,656 of Other fraud cases with a total value of A$890,541, an increase of 1,883 cases or 41.48% compares to 4,359 in 2009; while the total value has decreased by A$669,937 or 42.93% compares to A$1,560,478 in 2009.
There are 465,165 fraud cases perpetrated overseas on Australian-issued cards with a total value of A$105,884,575, a significant increase of 67,165 cases or 16.88% compares to 398,000 in 2009; while the total value has decreased by A$19,332,106 or 22.34% compares to A$86,552,469 in 2009.
This figure can be further brokendown as:-
22,985 of Lost/ Stolen cases with a total value of A$5,324,369, a decrease of 3,212 cases or 12.26% compares to 26,197 in 2009; and the total value has also decreased by A$21,848 or 4.17% compares to A$5,556,252 in 2009.
544 of Never Received cases with a total value of A$485,474, a decrease of 472 cases or 46.46% compares to 1,016 in 2009; while the total value has increased by A$184,330 or 61.21% compares to A$301,144 in 2009.
282 of Fraudulent Application cases with a total value of A$133,522, a decrease of 755 cases or 72.81% compares to 1,037 in 2009; and the total value has also decreased by A$3,506 or 0.39% compares to A$155,370 in 2009.
52,638 of Counterfeit/ Skimming cases with a total value of A$20,488,090, an increase of 9,132 cases or 20.99% compares to 43,506 in 2009; while the total value has decreased by A$2,113,414 or 9.35% compares to A$22,601,504 in 2009.
387,957 of Card Not Present (CNP) cases with a total value of A$79,196,427, a significant increase of 62,664 cases or 19.26% compares to 325,293 in 2009; and the total value has also increased by A$21,531,097 or 37.34% compares to A$57,665,330 in 2009.
CNP continues to be the major category of fraud cases perpetrated overseas on Australian-issued cards with 83.4% contribution factor(compares to 81.73% contribution factor in 2009). This is inline with the robust online shopping activities where there is no physical present of the card is required.
759 of Other fraud cases with a total value of A$256,694, a decrease of 192 cases or 20.19% compares to 951 in 2009; while the total value has decreased by A$17,176 or 6.29% compares to A$272,870 in 2009.
In 2010 there are 200,291 cases of fraud perpetrated in Australia on cards issued overseas, with a total value of A$65,495,944.
The number of fraud decreased by 34,274 cases or 14.61% compares to 234,565 cases in 2009. And the total value has also decreased by A$8,889,198 or 11.95% compares to A$74,385,133 in 2009.
This figure can be further brokendown as:-
18,528 of Lost/ Stolen cases with a total value of A$5,717,130, a decrease of 9,798 cases or 34.59% compares to 28,326 in 2009; and the total value has also decreased by A$2,130,805 or 27.15% compares to A$7,847,935 in 2009.
1,829 of Never Received cases with a total value of A$560,553, a decrease of 302 cases or 14.17% compares to 2,131 in 2009; and the total value has also decreased by A$44,056 or 7.29% compares to A$604,609 in 2009.
333 of Fraudulent Application cases with a total value of A$127,460, a decrease of 292 cases or 46.72% compares to 625 in 2009; and the total value has also decreased by A$94,550 or 42.59% compares to A$222,010 in 2009.
84,572 of Counterfeit/ Skimming cases with a total value of A$28,204,601, a decrease of 25,149 cases or 22.92% compares to 109,721 in 2009; and the total value has also decreased by A$12,607,006 or 30.89% compares to A$40,811,607 in 2009.
With the number of cases and total value continue to decrease, Counterfeit/ Skimming continues to be the second major category of fraud cases perpetrated in Australia on cards issued overseas with 42.22% contribution factor(compares to 46.78% contribution factor in 2009).
93,400 of Card Not Present (CNP) cases with a total value of A$30,167,891, an increase of 3,242 cases or 3.6% compares to 90,158 in 2009; and the total value has also increased by A$6,032,074 or 24.99% compares to A$24,135,817 in 2009.
Card Not Present (CNP) cases becomes the the major category of fraud cases perpetrated in Australia on cards issued overseas with 46.63% contribution factor. The Card Not Present (CNP) cases has clearly becoming the biggest threat and most popular cards fraud method in Australia.
1,629 of Other fraud cases with a total value of A$718,310, a decrease of 1,975 cases or 54.8% compares to 3,604 in 2009; while the total value has decreased by A$44,845 or 5.88% compares to A$763,155 in 2009.
Credit Cards in Australia 2009-2010
In accordance to RBA credit and charge card statistics, there are 14,427,859 of cardholders in Australia as at December 2009. As of December 2010, there are 14,807,113 of cardholders in Australia.
This shown the number of cardholders has increased by 379,254 or 2.63% in 12 months period.
Total Card Transactions and Credit Limits
Total credit and charge card transactions for year 2009 is A$225.76 billion(1,510,642,000 number of transactions), with rollover balance of A$46.91 billion. The A$225.76 billion transactions are made up of A$11.43 billion cash advances(29,867,000 number of transactions) and A$214.33 billion purchases(1,480,775,000 number of transactions).
Whereas the total card transactions for year 2010 is A$239.48 billion(1,600,898,000 number of transactions), with rollover balance of A$49.27 billion. The A$239.48 billion transactions are made up of A$11.12 billion cash advances(27,941,000 number of transactions) and A$228.36 billion purchases(1,572,957,000 number of transactions).
Overall, the total card transactions increased by 6.08%, and rollover balance increased by 5.03% in 12 months period. The cash advances transaction has decreased by 2.71% while the purchases transaction has increased by 6.55% in the same period.
The average value per purchase transaction has increased from A$144.74 in 2009 to A$145.18 in 2010, which means credit and charge card is used for slightly larger amount purchases.
The amount of credit limits issued for credit and charge card in Australia as at December 2009 is A$127.11 billion. As at December 2010, the total credit limits in Australia is A$134.07 billion. An increased of A$6.96 billion or 5.48% is observed.
Market Share(purchases percentage) for Credit and Charge Card
For December 2010, 84.8%(in numbers) of purchases are made with MasterCard and Visa while the rest of purchases, 15.2% are made with American Express and Diners Club. However, the purchases percentage in value is higher for American Express and Diners Club
with 19.3% in total during the same period while the rest of the purchases, 80.7% are made with MasterCard and Visa.
Credit Cards Fraud in Australia 2009-2010
In 2009, there are 598,206 cases of credit and charge card fraud perpetrated in Australia and overseas on Australian-issued cards, with a total value of A$146,783,539.
The number of fraud increased significantly by 185,638 cases or 45% compares to 412,568 cases in 2008. However, the total value has only increased slightly by A$65,479 or 0.04% compares to A$146,718,060 in 2008.
There are 200,206 fraud cases perpetrated in Australia on Australian-issued cards with a total value of A$60,231,070, an increase of 24,846 cases or 14.17% compares to 175,360 in 2008; while the total value has decreased by A$4,843,856 or 7.44% compares to A$65,074,926 in 2008.
This figure can be further brokendown as:-
36,960 of Lost/ Stolen cases with a total value of A$7,620,897, a decrease of 4,843 cases or 11.59% compares to 41,803 in 2008; and the total value has also decreased by A$2,438,066 or 24.24% compares to A$10,058,963 in 2008.
10,577 of Never Received cases with a total value of A$2,754,689, a decrease of 762 cases or 6.72% compares to 11,339 in 2008; and the total value has also decreased by A$442,993 or 13.85% compares to A$3,197,682 in 2008.
2,819 of Fraudulent Application cases with a total value of A$1,591,335, a decrease of 515 cases or 15.45% compares to 3,334 in 2008; and the total value has also decreased by A$12,787 or 0.80% compares to A$1,604,122 in 2008.
29,815 of Counterfeit/ Skimming cases with a total value of A$15,047,434, a decrease of 4,850 cases or 13.99% compares to 34,665 in 2008; and the total value has also decreased by A$6,384,186 or 29.79% compares to A$21,431,620 in 2008.
115,676 of Card Not Present (CNP) cases with a total value of A$31,656,237, a significant increase of 35,033 cases or 43.44% compares to 80,643 in 2008; and the total value has also increased by A$4,924,106 or 18.42% compares to A$26,732,131 in 2008.
CNP continues to be the major category of fraud cases perpetrated in Australia on Australian-issued cards with 57.78% contribution factor(compares to 45.99% contribution factor in 2008). This is inline with the robust online shopping activities where there is no physical present of the card is required.
4,359 of Other fraud cases with a total value of A$1,560,478, an increase of 819 cases or 22.90% compares to 3,576 in 2008; while the total value has decreased by A$543,930 or 26.53% compares to A$2,050,408 in 2008.
There are 398,000 fraud cases perpetrated overseas on Australian-issued cards with a total value of A$86,552,469, a significant increase of 160,792 cases or 67.79% compares to 237,208 in 2008; while the total value has decreased by A$4,909,335 or 6.01% compares to A$81,643,134 in 2008.
This figure can be further brokendown as:-
26,197 of Lost/ Stolen cases with a total value of A$5,556,252, a significant increase of 10,101 cases or 62.75% compares to 16,096 in 2008; while the total value has decreased by A$240,114 or 4.14% compares to A$5,796,366 in 2008.
1,016 of Never Received cases with a total value of A$301,144, a decrease of 69 cases or 6.36% compares to 1,085 in 2008; while the total value has increased by A$9,718 or 3.33% compares to A$291,426 in 2008.
1,037 of Fraudulent Application cases with a total value of A$155,370, an increase of 344 cases or 49.64% compares to 693 in 2008; and the total value has also increased by A$3,506 or 2.21% compares to A$158,876 in 2008.
43,506 of Counterfeit/ Skimming cases with a total value of A$22,601,504, an increase of 1,769 cases or 4.31% compares to 41,710 in 2008; while the total value has decreased by A$6,127,428 or 21.33% compares to A$28,728,932 in 2008.
325,293 of Card Not Present (CNP) cases with a total value of A$57,665,330, a significant increase of 149,745 cases or 85.30% compares to 175,548 in 2008; and the total value has also increased by A$11,637,822 or 25.28% compares to A$46,027,508 in 2008.
CNP continues to be the major category of fraud cases perpetrated overseas on Australian-issued cards with 81.73% contribution factor(compares to 74% contribution factor in 2008). This is inline with the robust online shopping activities where there is no physical present of the card is required.
951 of Other fraud cases with a total value of A$272,870, a decrease of 1,125 cases or 54.19% compares to 2,076 in 2008; while the total value has decreased by A$367,156 or 57.37% compares to A$640,026 in 2008.
In 2009, there are 234,565 cases of fraud perpetrated in Australia on cards issued overseas, with a total value of A$74,385,133.
The number of fraud decreased significantly by 96,751 cases or 29.20% compares to 331,316 cases in 2008. And the total value has also decreased significantly by A$44,982,041 or 37.68% compares to A$119,367,174 in 2008.
This figure can be further brokendown as:-
28,326 of Lost/ Stolen cases with a total value of A$7,847,935, a decrease of 3,652 cases or 11.42% compares to 31,978 in 2008; and the total value has also decreased by A$2,391,947 or 23.36% compares to A$10,239,882 in 2008.
2,131 of Never Received cases with a total value of A$604,609, a decrease of 401 cases or 15.84% compares to 2,532 in 2008; and the total value has also decreased by A$101,685 or 14.42% compares to A$706,474 in 2008.
625 of Fraudulent Application cases with a total value of A$222,010, a decrease of 435 cases or 41.04% compares to 1,060 in 2008; and the total value has also decreased almost by half to A$210,656 or 48.69% compares to A$432,666 in 2008.
109,721 of Counterfeit/ Skimming cases with a total value of A$40,811,607, a decrease of 91,492 cases or 45.47% compares to 201,213 in 2008; and the total value has also decreased by A$37,470,482 or 47.87% compares to A$78,282,089 in 2008.
Even though the number of cases and total value has decrease significantly, almost by half, Counterfeit/ Skimming continues to be the major category of fraud cases perpetrated in Australia on cards issued overseas with 46.78% contribution factor(compares to 60.73% contribution factor in 2008).
90,158 of Card Not Present (CNP) cases with a total value of A$24,135,817, a decrease of 1,505 cases or 1.64% compares to 91,663 in 2008; and the total value has also decreased by A$4,665,121 or 16.20% compares to A$28,800,938 in 2008.
3,604 of Other fraud cases with a total value of A$763,155, an increase of 734 cases or 25.57% compares to 2,870 in 2008; while the total value has decreased by A$141,970 or 15.69% compares to A$905,125 in 2008.
Australia Credit Card Statistics 2008-2009
In accordance to RBA credit and charge card statistics, there are 14,223,670 of cardholders in Australia as at December 2008. As of December 2009, there are 14,427,859 of cardholders in Australia.
This shown the number of cardholders has increased by 204,189 or 1.44% in 12 months period. The low volume increase is inline with the financial sector crisis in 2009, where credit card issuers are
prudent in issuing new cards as well as closure of some old accounts.
Total Card Transactions and Credit Limits
Total credit and charge card transactions for year 2008 is A$220.18 billion with rollover balance of A$44.74 billion. The A$220.18 billion transactions are made up of A$12.92 billion cash advances and A$207.26 billion purchases.
Whereas the total card transactions for year 2009 is A$225.76 billion, with rollover balance of A$46.91 billion. The A$225.76 billion transactions are made up of A$11.43 billion cash advances and A$214.33 billion purchases.
Overall, the total card transactions increased by 2.53%, and rollover balance increased by 4.85% in 12 months period. The cash advances transaction has decreased significantly by 11.46% while the purchases transaction has increased by 3.42% in the same period.
The amount of credit limits issued for credit and charge card in Australia as at December 2008 is A$122.43 billion. As at December 2009, the total credit limits in Australia is A$127.11 billion. An increased of A$4.68 billion or 3.82% is observed.
For December 2009, 85.5%(in numbers) of purchases are made with MasterCard and Visa while the rest of purchases, 14.5% are made with American Express and Diners Club. However, the purchases percentage in value is higher for American Express and Diners Club
with 18.5% in total during the same period while the rest of the purchases, 81.5% are made with MasterCard and Visa.
Credit Card Interest Rate
The credit card issuers in Australia has been actively lowering their credit cards interest rate, in tandem with the RBA monetary policy during the financial crisis.
This is an encouraging scene if compares to credit card issuers in other countries. It is also known that Australian has the preferences for low interest credit cards
in comparison to to other categories when they shop for a credit card.
Financial Crisis and Credit Cards
During financial crisis, the credit card issuers are extra cautious in issuing new credit cards. However, if compared to other regions(where new credit cards issuance are freeze and old accounts are closed or reduced in credit limits),
Australian are considered lucky with ample choice and selection when it comes to online credit card comparisons and applications.
We've a decent number of credit card issuers participating in Australia to acquire new credit card customers.
You'll be able to find interesting credit deals/offers such as low interest credit cards with 0% balance transfer as well as rewards credit cards that suit your lifestyle on this site. Make the right choice and you could save thousands on credit card fees,
while enjoying the generous rewards.
And make sure you move quickly to get one as the offer may not last foerver considering the volatile economy may continue for months(if not years) to come.
Australia Credit Card Statistics 2007-2008
In accordance to RBA credit and charge card statistics, there are 13,915,371 of cardholders in Australia as at December 2007. As of December 2008, there are 14,223,670 of cardholders in Australia.
This shown the number of cardholders has jumped by 308,299 or 2.22% in 12 months period.
Total credit and charge card transactions for year 2007 is A$204.79 billion with rollover balance of A$42.70 billion. The A$204.79 billion transactions are made up of A$12.55 billion cash advances and A$192.24 billion purchases.
Whereas the total card transactions for year 2008 is A$220.18 billion, with rollover balance of A$45.34 billion. The A$220.18 billion transactions are made up of A$12.92 billion cash advances and A$207.26 billion purchases.
Overall, the total card transactions increased by 7.52%, and rollover balance increased by 6.18% in 12 months period. The cash advances transaction has increased marginally by 2.95% while the purchases transaction has increased by 7.81% in the same period.
The amount of credit limits issued for credit and charge card in Australia as at December 2007 is A$114.41 billion. As at December 2008, the total credit limits in Australia is A$122.43 billion. An increased of A$8.02 billion or 7.01% is observed.
For December 2008, 87.3%(in numbers) of purchases are made with MasterCard and Visa while the rest of purchases, 12.7% are made with American Express and Diners Club. However, the purchases percentage in value is higher for American Express and Diners Club
with 16.2% in total during the same period while the rest of the purchases, 83.8% are made with MasterCard and Visa.
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