Why Australians want more control over credit card spending and security

Why Australians want more control over their credit card spending and security – Lock, Block and Limit.

We give you the inside track on attitudes to credit card spending and security, to help you make the most of Lock, Block and Limit.

To help you take advantage of Lock, Block and Limit, we spoke to 1,000 Australians about their attitudes to credit card spending and security.

Whether it’s more control over everyday spending, instant access to security settings or simply the ability to block certain transactions, it’s clear from our research that Australians want more control over their credit card.

Some of the key insights include:

  • Overall, 80% of Australians would like more control over the security of their credit card.
  • 75% say they would feel more secure about using their credit card if they could block transactions processed outside of Australia while they’re not overseas.
  • When asked about managing everyday spending, 58% of Australians said they would find it useful to be able to set a transaction limit on their credit card.
  • On cash advances, 66% say they never withdraw cash using their credit card, and 70% would feel more secure if they could block ATM cash advances completely.

It’s clear then that while Australians like using their credit cards, there’s a need to provide more access to card security and spending management tools.

Using Lock, Block and Limit

As part of our commitment to help improve and enhance your financial wellbeing, we’ve launched Lock, Block and Limit.

Lock, Block and Limit gives you a safer way to pay with features like the ability to instantly lock your credit card from overseas purchases, block ATM cash advances and set your own spending limits.

See how Lock, Block and Limit can give you unprecedented control over your credit card security in our handy how-to video.

For more information on Lock, Block and Limit, please visit. www.commbank.com.au/lockblocklimit