Credit card spend falling, figures show by Finance News Bulletin

Published: 17/12/07

praise CARDS LOW RATE praise CARDSSTUDENT praise CARDS0% APR praise CARDSCREDIT CARDS ONLINEBALANCE TRANSFERSAn increasing amount exhausted on debit cards is leading the total credit card use in the UK to height off, figures from Apacs showFurthermore, the height of credit card repayment is growing, as customers concentrate on clearing their debt The Apacs information show that the number of credit card transactions has fallen by one per cent, to £21 billion

Apacs cites Bank of England figures showing the uppermost proportion of credit card payments since 1998, at 953 per centSandra Quinn, manager of communications at Apacs, said: "Our figures show that UK praise cardholders are reining in their spending and concentrating on repayments""anxiety about economic growth could well have contributed to the reduction in credit card expenditure and higher repayments, alongside media conjecture about whether consumers are borrowing responsibly

"Ms Quinn added that debit cards are now as suitable as credit cards in many stores, although consumers still favor credit cards when shopping online Recent research from ACNielsen exposed that the popularity of internet shopping could soon alter the face of the high streetCredit Cards | Business Credit Cards | Balance Transfers | near to the ground Rate Credit Cards | Cash Back

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