Brits spend record amount on cards by Finance News Bulletin

Published: 04/12/07

As a number of fee and speed increases hits the credit card market, it is "more important than ever" that people shop around for a high-quality deal, according to WhichInternet shoppers have been advised to use their credit cards for online purchases by shopsafeco

ukBritish customers are spending record amounts of money using their credit and withdrawal cards, a new report claimsAnd over the last ten years the amount of money exhausted using debit and credit cards has more than trebled, according to a study by UK payments friendship ApacsThe industry body revealed that more than £320 billion in plastic expenditure was received by UK retailers and repair providers in 2006

Debit cards are it seems that a more popular method than credit cards, accounting for 61 per cent of the total spendpraise cards made up the remaining 39 per cent and accounted for £126 billion of the 2006 expenditure totalCard expenditure in retail outlets outstripped money spending for the first time in 2005 and that trend has continued, with the amount of cash exhausted in 2006 being more than £45 billion lower than the amount of certificate spendingSandra Quinn, director of communications at Apacs, commented: "Over the next ten years it is predictable that spending on plastic cards will carry on to dominate the expenditure arena, accounting for 89 per cent of growth in UK payment volumes by 2016

"In connected news, the price of the average car insurance best is now at a record high, according to an AA insurance premium index free this

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