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UK consumers embracing credit cards, experts reveal
Published: 29/12/2008 |
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British consumers are slowly shifting away from debit cards and towards credit cards, it has been reported. According to the latest 'UK Plastic Cards' report published by Datamonitor, the total amount of money spent on cards across the country rose by 8.3 per cent to £540 billion over the course of the past 12 months. Notably, the same period has also seen a significant shift towards credit cards, with this trend driven largely by the increased popularity of internet shopping, with consumers offered greater protection on credit cards, as well as by a recent spike in the number of special deals offered by lenders. "We are seeing customers migrating their spending from debit to credit card," Donald MacLeod, head of Sainsbury’s credit cards explained. "So from where we have traditionally seen a steady move away from credit card to debit card spend, we have seen that shift back." These comments come on the back of a recent quarterly report from the UK payments association APACS, which revealed that consumers in the south of the country are most likely to use their plastic while shopping online.  |
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