Aussies reducing credit card use

CommSec research shows Australians are not using their credit cards as much, a possible sign consumers are being careful with their spending.

Banks have rejected five recommendations from an independent review of the industry code of conduct. (AAP) Source: AAP

Australians seem to be keeping debt levels in check as more shoppers use their own money instead of credit cards.

CommSec research has found debit card transactions were up by almost 13 per cent in March compared to a year ago while the average credit card balance was down 1.8 per cent - the biggest fall in two years.

The report claims this shows consumers are being more diligent in keeping their debt levels in check.