<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>An eyewatering $86 billion is expected to be put on credit cards this </span><a href="https://www.9news.com.au/christmas" rel="" target="" title="Christmas "><span>Christmas</span></a><span> and into the new year.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But experts are reminding Aussies if they don't pay off the debt, they'll be hit with eye watering interest charges.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>This month was set to see the biggest credit card spending, with $27.7 billion being whacked on cards for Christmas as well as Boxing Day sales.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/victoria-bushfires-boxing-day-warning-evacuated-residents-given-chance-to-return-home-emergencies-news/ae1b88fd-c327-4ea1-a4f4-3267d8e63cc6"><strong><span>Victoria braces for dire Boxing Day bushfire conditions</span></strong></a><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But January, when the sales traditionally ramp up, will see cash to the tune of $28.6 billion splashed, according to Canstar.com.au.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Analysis of RBA figures shows credit card debt attracting interest charges has risen every January since 2015, as Australians notoriously struggle to clear their debt within the interest-free period.</span></div></div><div class="styles__Wrapper-sc-2o34ro-0 cmwkBV"><div class="styles__Column-sc-2o34ro-3 jJDKrX"><a href="/content/2024/12/24/06/50/sydney-fish-market-christmas-marathon-in-pictures"><img alt="" sizes="(min-width: 1024px) 636px, (min-width: 768px) 396px, 100vw" src="https://imageresizer.static9.net.au/m_WqGJ-PgauaPWf4BFgi7LFF-fQ=/0x625:6000x4000/396x223/https%3A%2F%2Fprod.static9.net.au%2Ffs%2Fcf030681-a821-4f5d-ace5-e7d5039df15c" srcset="https://imageresizer.static9.net.au/m_WqGJ-PgauaPWf4BFgi7LFF-fQ=/0x625:6000x4000/396x223/https%3A%2F%2Fprod.static9.net.au%2Ffs%2Fcf030681-a821-4f5d-ace5-e7d5039df15c 396w, https://imageresizer.static9.net.au/lD94ncfjf5djzg1P_hX0HPKMSK0=/0x625:6000x4000/636x358/https%3A%2F%2Fprod.static9.net.au%2Ffs%2Fcf030681-a821-4f5d-ace5-e7d5039df15c 636w"/></a></div><div class="styles__Column-sc-2o34ro-3 jJDKrX"><div class="styles__Headline-sc-2o34ro-4 hpbOlz">Sydney Fish Market's gargantuan Christmas marathon</div><div class="styles__Button-sc-2o34ro-1 eBjlmW"><a class="styles__ButtonLink-sc-2o34ro-2 hqpklJ" href="/content/2024/12/24/06/50/sydney-fish-market-christmas-marathon-in-pictures">View Gallery</a></div></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The latest credit card statistics for October 2024 show that Australians are shelling out over $8.8 million in interest charges a day on a collective credit card debt of $17.45 billion, at the average interest rate of 18.51 per cent.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/credit-cards-aussies-warned-over-credit-card-debt-as-tills-ring-for-christmas-and-boxing-day/717431f8-3479-4d60-8677-8bb3f15fca96" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>This daily amount could climb even higher in January if shoppers can't pay back their silly season spending, which includes Christmas shopping, the Black Friday and Boxing Day sales as well as summer holidays.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/christmas-trading-hours-2024-what-stores-are-open-during-the-holiday-period/ad384c83-e62c-4d7e-8089-a6e0210906b1"><strong><span>Christmas is nearly here - what shops will be open?</span></strong></a><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/rush-on-adelaide-stores-as-christmas-shoppers-leave-it-late/aa4e01c3-5148-4419-b8c9-9822ba8c71b6"><strong><span>Rush on Adelaide stores as Christmas shoppers leave it late</span></strong></a><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Canstar.com.au's Data Insights Director, Sally Tindall warned Aussies not to ignore their credit card bulls.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"With an estimated $86 billion to be spent on credit cards across November, December and January, this silly season is shaping up to be no different, however, it doesn't have to be this way," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/man-missing-in-wa-without-food-or-water-on-44degree-day/d45be77f-4726-423f-ab35-12990ee6ae26"><strong><span>Man missing in WA without food or water on 44-degree day</span></strong></a><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If your credit card is already bursting at the seams, take action before it really starts to unravel.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"After a long, tough year, it's hugely tempting to let the purse strings go over summer, but the last thing you want is to start 2025 with a financial hangover that lasts for months, potentially even years.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If you've already blown the budget, think of ways you can get back on track."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>She advised removing credit card apps from your phone and locking away the actual card, as well as talking to your bank about reducing the interest rate.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It might also be worth looking into personal loans to pay of debt, or selling something to cover it, Canstar said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/federal-election-2025-preview-anthony-albanese-peter-dutton/f452118f-db0d-417f-9df3-cf2ff6f5ce48"><strong><span>Attack lines sharpening, campaigns stirring as federal election looms</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Most credit cards offer customers time to pay back their purchases before charging interest, known as interest-free days.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The amount of time given to customers can vary from card to card but also depends on where a customer is in their billing cycle.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Many credit cards offer customers up to 55 days to pay the amount owing on their card in full, however, shoppers using a big four bank rewards card only have up to 44 or 45 days to clear their debts.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>If you're struggling to manage your debt, seek professional advice from the National Debt Helpline on 1800 007 007.</span></strong></div></div>