Figures released in Australia point to an expected AU$10.7m ($9.74m) increase in credit card interest revenue over the Christmas season.
In a report by RateCity, an Australian financial products comparison website, credit card debt is forecast to grow by 2% in January 2014.
This increase will build on existing debt figures; credit card users in the country owe AU$48.8bn, with over AU$34.2bn currently accruing interest.
According to the website, the average credit card interest rate in Australia is 17%.
The decade average for January credit card debt in the country is 2.21% higher than that in December, with the first month of the year traditionally accompanying the highest amount of credit card debt.
Commenting on the tendency, RateCity said: "And this coming January is unlikely to be an exception, despite Australians scaling back on their spending in the past few years."
Meanwhile, the Australian Securities and Investments Commission (ASIC)’s financial decision-making support service MoneySmart warned credit card users to beware fees and keep track of spending.