Australians Going Deeper Into Debt Amid Rising Mortgage Costs, Credit Card Demand

Credit card demand recorded the largest year-on-year (YOY) increase among all debt categories, rising 15.5 percent.

In this photo illustration, Australian $50, $20, $10 and $5 banknotes and dollar coins are shown arranged for a photograph in Newcastle, Australia on March 25, 2025. Roni Bintang/Getty Images

Australians are going deeper into debt as they grapple with the rising cost of mortgages, credit cards, and personal loans.

According to the latest Australian Equifax Consumer Market Pulse report for the final quarter of 2025, credit card demand recorded the largest year-on-year (YOY) increase among all debt categories, rising 15.5 percent.