Credit card debt growth slowing

According to the Reserve Bank, growth in credit and charge card balances and spending on credit and charge cards slowed in April 2008. Total balances outstanding grew 1.4% in April and 5.2% over the last year - the lowest growth rate for 13 years. The average credit card balance was $3085 in April 2008, up from $3056 in March 2008. The number of transactions made using EFTpOS fell 0.5% in April 2008.