Nearly one in three Australian credit cardholders have never reviewed their card's interest rate, fees or features, resulting in an estimated $1.6 billion in extra charges annually. Australians collectively owe $19.6 billion in credit card debt attracting interest charges, costing $3.4 billion per year at an average rate of 18.5%. Switching to cards with rates under 10% and zero annual fees could save individual cardholders with $5,000 debt almost $500 annually, with 11 providers currently offering cards with no fees.

From Channel 7's popular breakfast show with Natali Barr and Matt Shirvington, Sunrise brings you the show's latest news, entertainment and human-interest stories.

From Channel 7's popular breakfast show with Natali Barr and Matt Shirvington, Sunrise brings you the show's latest news, entertainment and human-interest stories.

Top stories and interviews from Australia's #1 breakfast show

Sunrise

From Channel 7's popular breakfast show with Natali Barr and Matt Shirvington, Sunrise brings you the show's latest news, entertainment and human-interest stories.

Australians paying billions in avoidable credit card fees

https://api.omny.fm/orgs/fa326977-3de5-4283-9b8b-af3500c58607/clips/f44d04d1-8a4c-47bb-ba31-b400015aed23/transcript