Defined Terms and Documents

RBA determined annual Standard Credit Card Purchase Interest Rate

According to the Reserve Bank of Australia, the average standard credit card rate was 19.94% in Aug 2021.

Year

Standard credit card rate

Cash rate

Aug-00

16.64%

6.25%

Aug-01

16.01%

5.00%

Aug-02

16.01%

4.75%

Aug-03

16.01%

4.75%

Aug-04

16.51%

5.25%

Aug-05

16.80%

5.50%

Aug-06

17.32%

6.00%

Aug-07

18.12%

6.50%

Aug-08

19.92%

7.25%

Aug-09

17.97%

3.00%

Aug-10

19.52%

4.50%

Aug-11

19.69%

4.75%

Aug-12

19.59%

3.50%

Aug-13

19.55%

2.50%

Aug-14

19.77%

2.50%

Aug-15

19.77%

2.00%

Aug-16

19.77%

1.50%

Aug-17

19.77%

1.50%

Aug-18

19.77%

1.50%

Aug-19

19.94%

1.00%

Aug-20

19.94%

0.25%

Aug-21

19.94%

0.10%

"Standard refers to standard Visa and MasterCard accounts with an interest-free period. Prior to February 2006, the standard credit card series also included Bankcard rates. ‘Credit cards – Low rate’ refers to Visa and MasterCard accounts with an interest-free period, but with fewer features than standard credit cards." - RBA Excel file - Notes