Travel among top reasons people use a credit card or personal loan



Customers rank travel almost as important as food and transport when it comes to credit card spending or taking out a personal loan, NAB data shows.

Analysis by NAB reveals travel expenditure is the fifth most common category of credit card usage, behind more essential spending categories such as food and transport.

Customers looking for a Personal Loan also ranked travel as a common reason for the loan after debt consolidation, personal goods and refinancing ranked as more common.

General Manager Everyday Banking, Consumer and Cards, Michael Shurlin said travel was also the subject of one in every 20 searches conducted on

“We know many customers are now prioritising travel more than they have in the past and NAB can help them manage their money so they can enjoy their break without the burden of unmanageable debt,” he said.

“At NAB we have just launched market-leading personal loan and credit card offers to make it easier for customers to plan their travel budgets, particularly those wanting to escape the Australian winter and head to warmer locations.”

NAB has the lowest unsecured Personal Loan rate of the major banks with 12.99%p.a. for variable and fixed loans. NAB is also offering 0%p.a. interest on purchases for 12 months on its Low Rate personal Credit Card. These offers are available for all new Low Rate Cards and new Personal Loans. Customers who currently apply for a Personal Loan can also access discounts on a range of insurance products.

Mr Shurlin said NAB data showed travel was among the top reasons people used a Personal Loan or Credit Card as well as buying a car or consolidating their debt.

Ranking Credit Card Personal Loan
1 Supermarket Car
2 Car Debt Consolidation
3 Food Personal Goods
4 Stores Refinance
5 Travel Travel

The above table refers to the top five reasons NAB customers apply for a Personal Loan and the top six categories that NAB customers use their Credit Cards for.



Related Articles

  • Customers

Relief package for customers impacted by tornado in Armidale

National Australia Bank has today announced its disaster relief package for customers in Armidale, NSW impacted by the tornado.

  • 15.10.2021
  • Time to read 1 min read
  • Small Business

NSW businesses celebrate as doors re-open

Businesses across New South Wales are welcoming in the first day of reduced restrictions in the state, re-opening their doors as vaccination levels continue to climb.

  • 10.10.2021
  • Time to read 3 min read
  • Property

The scheme to help single parents buy homes

Learning and development professional and single mother Therese Gebran sometimes felt that buying her own home was out of reach.

  • 06.10.2021
  • Time to read 2 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.