The Reserve Bank of Australia (RBA) has revealed that credit card transactions of Australians reached a record high of AU$28.1 billion during the Christmas season, with AU$17.8 billion now being charged interest.

This huge amount of credit card debt has left many households struggling to pay off their growing bills. In total, credit and debit card spending for December exceeded AU$80 billion, marking an increase of AU$882.5 million compared to November, News.com reported.

An analysis of RBA data by........

© International Business Times