Latest research shows Australian consumer interest in credit cards back to prepandemic levels, but not for some cards
Finty.com, the popular financial comparison site, has just released its latest credit card keyword search statistics.
Finty is best known for making it easier to compare financial products across banking, crypto, investing, and lending from 200+ partners. Their study of 110 randomly selected high-volume credit card-related search keywords from March 2019 to March 2022 revealed a strong post-pandemic rebound in searches for credit cards in Australia. Keywords related to travel and rewards are back to pre-pandemic levels, with significant growth year on year.
There were 61% more searches for ‘credit card qantas points’ and 60% more for ‘best rewards credit card Australia’ in 2022 compared to 2021. This contrasts with search volume for keywords related to balance transfers and debt consolidation, with nearly 50% fewer searches overall compared to 2019.
The complete study can be found here Australian credit card stats, facts, and trends (finty.com) (finty.com/au/credit-cards/stats/), and the full analysis is available here: https://docs.google.com/spreadsheets/d/11Z5atybkHalqUDQjosyiKJRbkmwpfdIMpYiDMXmLMuY/edit#gid=0.
Commenting on the latest trends, David Boyd, Managing Director at Finty says, “We think that there are a number of contributing factors to the overall upward trend in searches related to credit cards. There is a very clear increase in the number of people searching for travel and rewards-related cards, but we think there is also a correlation with the increased cost of living and people starting to feel the squeeze in their finances.”
