Supporting information:

Series description - Credit Card Survey

Detailed series description is available in the `Help' tab of the questionnaire.

Balances Outstanding

This is the amount of money, either on deposit for, or owed in total by, all credit card holders as at the end of each month. This includes both active and inactive accounts, but no closed accounts.

Credit Limits

This is the total value of all cardholders' credit limits at the end of the month (charge cards report no limit). A credit limit is authorised by the issuer for total credit a customer may have outstanding on a card without being in breach of the agreement with the issuer. For some cards this will be zero.

Personal card total advances outstanding

All borrowing outstanding on personal cards, calculated as a daily average for the month, is included here.

Personal card interest-bearing advances outstanding

Interest-bearing advances outstanding is the amount of credit outstanding on which interest is being charged to the customer, calculated as a daily average.

Personal card non-interest bearing advances outstanding

Non-interest-bearing advances outstanding is the amount of credit outstanding that does not have interest being charged to the customer, calculated as a daily average. This amount corresponds to the `free float' that exists as a result of the `interest free days' arrangements made by issuers for most cards. It is estimated using a formula agreed with issuers.

Simple average interest rate on personal `classic' cards

The interest rate charged on the standard, or `classic' card, usually the most commonly held, is reported as a simple average among the nine issuers with such cards.

Weighted average interest rate on personal interest-bearing balances

Where interest is being charged to the customer, the daily weighted average of such rates is reported here.

Weighted average interest rate effective on all personal balances

The calculation of this rate takes as denominator both the daily average balances of credit card balances paying interest and the `free float' on credit and charge cards, with revenue from interest payments as the numerator. The resulting interest rate is called the `effective' interest rate.

Amounts financed

These comprise spending by credit card holders and cash advances received during the month concerned, both on cards issued in New Zealand and issued overseas. `Billings' means spending on a card, or `amounts financed' - the monthly flow of total card debits (excluding interest), either by direct purchase or via cash advances. The rates of growth of billings are based on seasonally-adjusted data, which allows for trading day effects.

Total billings in New Zealand

This is the spending within New Zealand by holders of cards issued in New Zealand and overseas-issued cards.

Total billings on cards issued in New Zealand

This total adds New Zealanders' domestic card spending to their card spending overseas (billings overseas).