Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Ombudsman highlights credit card complaints.

Download PDFDownload PDF

Media Release by…

ALAN GRIFFIN MP Shadow Parliamentary Secretary for Consumer Affairs & Banking Services

18 October 2002


Today’s release of the Australian Banking Industry Ombudsman’s (ABIO) Annual Report highlights the growth in credit card problems.

Total new cases received was 7,992 - up 12.5 per cent since last year.

However credit card complaints soared 952 to 1,481 - an increase of 529 - over 55% in just one year.

In fact, 60 per cent of the net new case increase can be attributed to credit cards.

The report shows that unauthorised transactions and incorrect debits were the main problems. However, the issue of unsolicited credit card limit increases is also highlighted in the case studies section.

The Banks should be congratulated for the high level of cases resolved without significant involvement of the ABIO.

The ABIO should also be congratulated for continuing to deal with ever-increasing case loads and improving their rate of case resolution.

However, annual complaint rate increases of over 10 percent each year do highlight continuing problems within this area.

For further information please contact: Alan Griffin: 0419 353 476