Did you know that Australians could save $3,000 in interest by switching to a more competitive credit card? Or that the average credit card debt is $3,114?

The Credit Savvy team have created the following infographic to get you familiar with the credit landscape of Australia.

Credit and financial state of play 2016

 

As our Managing Director, Dirk says, “We encourage Australians to see if they’re getting the best deal possible. When you consider that there can be a difference of up to 12% p.a. in interest rates between different credit cards, it pays to do your homework on what’s out there.”

This doesn’t just apply to credit cards – there are plenty of competitive deals out there on home loans and personal loans as well. In fact, if you’ve got a great credit history, there are personal loans you can find on the Credit Savvy comparison site that could reward you with a better interest rate.