A new survey showed that an estimated 50 percent of Australian households were worrying that interest rates would further increase while only 20 percent were holding expectations that household debt levels would spike in the next few months.

According to the Dun & Bradstreet survey of consumer credit expectations released on Wednesday, which polled 1205 adults across the country, 49 percent of those queried were under the impression that more rate hikes would affect their finances.

The credit agency said that the survey was completed in June, which is about a month lapsing following the Reserve Bank of Australia's (RBA) move to bring the cash rate to 4.5 percent, which is the rate's sixth upward adjustments in eight months.

The survey found that households with dependent children were poised to encounter more stress as 55 percent of those polled with children declaring that another round of rate hike could negatively affect their finances while 43 percent respondents who admitted financial difficulties have no dependent children.

Dun & Bradstreet clarified though that only 20 percent of households which foresee financial problems believed that such scenario would entail more debts.

The report also showed that about 50 percent of respondents aged under 50 intended to utilise credit to pay for expected spending in the September quarter while about 25 percent of those polled over 50 should be following suit, which reflected the expectations of spending over the period.

The survey said as per the latest data furnished by the RBA, the average credit card balance peaked to $3,248 in the month of May, reflecting an increase of five percent from the past 12 months.