Kiwis struggling to stay afloat have turned to credit cards to bridge the cap amid an ongoing cost-of-living crisis.

New credit card application enquiries have reached their highest level since 2021- and card arrears have jumped 4.4 percent in August.

Sorted Personal Finance Lead Tom Hartmann says living costs have increased and bills have piled up - and people feel the need to borrow their way through it.

"From power, from kids' sports fees - it could be many different situations. And this is just one way to get through it."

LISTEN ABOVE

Kiwis struggling to stay afloat have turned to credit cards to bridge the cap amid an ongoing cost-of-living crisis.
New credit card application enquiries have reached their highest level since 2021- and card arrears have jumped 4.4 percent in August.
Sorted Personal Finance Lead Tom Hartmann says living costs have increased and bills have piled up - and people feel the need to borrow their way through it.
"From power, from kids' sports fees - it could be many different situations. And this is just one way to get through it."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Tom Hartmann: Sorted Personal Finance Lead on the increase on Kiwis applying for credit cards

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/9bca0f1f-f472-4884-b85a-b1fc0042876c/transcript

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