Consumers are using the coronavirus recession to wipe billions of dollars off their credit cards, wind down their use of cash and almost get rid of their personal cheque books | swrighteconomy
, saying at some point the cheque system will have to be wound up.
"Aussies have been falling out of love with credit cards for years but the COVID-19 period has led some to call time altogether and ditch their credit card," he said. "A chunk of thehas been used to wipe credit card debt. Necessity will mean some may have to use the credit card again but hopefully only for the minority and the rest will have kicked the habit."
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