Increased Credit Card Spending
November 23, 2008
Surprisingly new figures have shown that even in the current economic climate spending on UK credit cards and debit cards in the month of September increased.
UK payments association APACS advise that come 497 millions purchases were made with debit cards which was an increase from the previous month of 12.7%. Similarly with credit card purchases the increase was around 9.4% up on the previous month.
A reason for this could have been the tax rebate that people saw in their pay packets which saw people recieving around £60.00 extra. Taxpayers of the basic rate will be saving annually £ 120.00 which was brought about by the 10p tax row.
In the UK there are some 42 million people who have debit cards, along with 31 million who have credit cards. In the three months leading up to the end of September the amount of spending on these cards was 7.3% up on the same period last year.
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