A Credit Card is a payment card issued that allows the Credit Cardholder to pay for goods and services based on the holder's promise to pay for them where the Credit Cardholder is required to repay only the Minimum Monthly Payment which is usually 5% or 2.5% of the Closing Balance. 

The Four Pillar Banks account for around 80 per cent of the credit card market.

ASIC's 'MoneySmart' Credit Card 'Debt Clock' provides pertinent credit card statistics, including "There are 7,515,000 credit card holders in Australia (Source: Roy Morgan Research, 12 month average June 2016".

According to CANSTAR data cited by Westpac, as at July 2015, there were at least 83 institutions offering 266 Credit Card Products.

Credit Card Issuers grant a Revolving Line Of Credit to a Credit Cardholder from which the Credit Cardholder can borrow money for payment to a Merchant or as a Cash Advance.

A Credit Card is different from a Charge Card as the latter requires the Closing Balance to be paid in full each month.

In contrast, Credit Cards allow the consumers a continuing balance of debt, subject to interest being charged.  A Credit Card also differs from a 'Cash Card', which can be used like currency by the owner of the card. 

A Credit Card differs from a Charge Card also in that a Credit Card typically involves a third-party entity (Credit Card Issuer) that pays the seller (Merchant) and is reimbursed by the buyer (Credit Cardholder), whereas a Charge Card simply defers payment by the buyer until a later date.

Most Credit Cards provide an Interest Free Period on Purchase/s as an inducement/lure.

No Credit Cards provide an Interest Free Period on a Cash Advance. 

The Card Limit is pre-set according to the Credit Cardholder's  Credit Rating.

Almost every store allows for payment of goods and services with Credit Cards.

Due to their widespread acceptance and simplicity, Credit Cards are one of the most popular forms of payment for consumer goods and services in Australia. 

Companion Cards "Shake Up Australian Card Market".

Usurious Unsecured Personal Loan Interest Rates 'inter alia' informs:

The Four Pillars also charge a Late Payment Fee of around $20 if a scheduled repayment (eg each month) is received more than 5 business days late.

Some Credit Cards charge a Overlimit Fee if the Credit Cardholder exceeds their Card Limit for cards issued before 1 July 2012.

The Four Pillars offer Credit Cards some of which charge approx. -

*           18.99% on Purchases after expiry of an Interest Free Period which may be up to 55 days from the 'Purchase Date'; and

*           21.84% on Cash Advances where interest is charged from the date of the Cash Advance, with some also charging an explicit one-off Cash Advance Fee up to $5.

Credit Card Debt Accruing Interest notes 'inter alia':

14-041MR Smart people not so smart with their money - ASIC  - 12 March 2014 notes:

Findings from Roy Morgan’s Single Source survey of over 50,000 consumers pa which includes detailed coverage of over 39,000 with major cards in "High incomes run up relatively less debt on major cards" - Dec 12, 2016 note:

"In the 12 months to October 2016, holders of major cards (VISA, MASTERCARD, AMEX) intended to carry forward to their next statement an average monthly debt of $19 billion between them. The main contributors to this were the lower-income card holders, who on average owed an amount equivalent to a much higher proportion of their incomes than the higher-income groups."