credit card

Credit card spending increases by 5.7%

19th January 2024 Consumer Lending | #credit card #debit card spending

UK Finance has released its latest card spending data for October 2023 highlighting that there were 377.7 million credit card transactions in October, 6.1 % more than in October 2022. The total spend of £20.4 billion was 5.7 % higher than October 2022. Outstanding balances on credit card accounts have grown by 8.7 % over…

Credit card travel spend eclipses pre-pandemic levels

2nd October 2023 Consumer Lending | #credit card #holidays

Latest credit card spending data from Halifax suggests it’s been a busy year for travelling, as travel-related spend (including on airlines and hotels), rose by 27% compared to 2019 and by 18% since 2022. This year, credit card spending at the UK’s twenty most popular air carriers (including British Airways, Jet2, EasyJet, Ryanair, Virgin and…

Four in ten use credit to cover essentials as consumer spending grows

27th March 2023 Arrears and Recoveries | #credit card #spend

Inflation and rising bills mean households are spending 12% more on essentials than they were a year ago, with almost four in 10 people having to use credit cards to cover these costs, research by Nationwide Building Society data shows. The monthly Spending Report analysed around 208 million debit card, credit card and Direct Debit…

Three quarters of consumers have changed their credit card habits

26th October 2022 Consumer Lending | #credit card

A new study from Forbes Advisor has revealed that nearly three-quarters (74%) of British credit card holders are being forced to change their credit card usage amid crippling inflation. Within the survey, respondents were asked specifically how the cost of living crisis affected their credit card activity. In total, more than half (57%) claimed that…

Poor credit scores put 20.2m at risk of paying extra £693 interest on credit cards

6th July 2022 Consumer Lending | #credit card

Poor credit scores are putting 20.2 million consumers at risk of paying an extra £693 interest on credit card balances according to new research by TotallyMoney. The credit app has calculated the cost of a poor credit score for those with interest-bearing credit card balances finding that those with a credit card balance of £2,472,…

Travel-related average credit card spend increases 453%

1st April 2022 Consumer Lending | #credit card

Credit provider, NewDay has published insights into its customers’ spending trends for the first two months of 2022. The data showed consumers prioritised booking holidays, with average credit card spend on hotels, flights and travel bookings increasing 453% in January and February year-on-year (YoY) as consumers took advantage of reduced global travel restrictions. The further…

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