Veda confirms credit card enquiries slow down in Q4 2011

Credit card applications fell by 9.9% in the December quarter.
Overall credit demand for 2011 ended flat on 2010.
Personal loan demand started to outstrip demand for credit cards, following a fifth consecutive quarter of growth and strong Q4 demand in Western Australia.
Mortgage enquiries continued to fall, registering an eighth consecutive quarter of decline.

SYDNEY, Australia. February 9, 2012 – Veda, Australasia’s leading provider of commercial and consumer data intelligence and insights today released the results of the Consumer Credit Demand Index, which revealed a sharp decline in credit card applications across Australia in the last quarter of 2011. This bucked the trend from earlier quarters in 2011, pointing to a slowdown in consumer demand for credit during the final quarter of the year. Compiled by Veda since 2004, the Consumer Credit Demand Index is a quarterly analysis of changes in consumer demand for credit cards, personal loans and mortgages across Australia.

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