Credit and debit card spending falls
We've researched the top credit card comparison sites.
www.openwebshopper.com
Credit card advice on cheap credit cards, low interest cards and balance transfers.
www.creditcards.co.uk
Consumers in the UK reined back spending on cards in September, according to figures from Mastercard.
The public spent a total of £5.41 billion on MasterCard branded cards, which was a decrease of 3.5 per cent from August.Debit card spending suffered badly, dropping by almost five per cent, and credit card spending also fell by just over one per cent.
Brian Moore, senior vice-president of MasterCard Europe, said: "UK consumers are tightening their belts as they feel the financial pinch inflicted by rising petrol and fuel prices.
High street stores were dealt a big blow, as debit card and credit card spending slumped by over six per cent and almost three per cent respectively, and Mr Moore believes the Bank of England may have to go further to turn the situation around.
"The Bank of England cut interest rates in August in an attempt to reinvigorate High Street spending, but despite last week's decision to keep rates on hold, another cut may be necessary to boost growth," he said.
The figures also state that there was an increase in online spending last month by 1.6 per cent to just under £1.36 billion.
© Copyright
Compare all Credit Cards. Compare up to a maximum of three cards from the ... Barclaycard Platinum Credit Card with Balance Transfer. 0% interest for 15 months from ...
www.barclaycard.co.uk
Apply for a Credit Card at the official Halifax.co.uk site ... Get our best credit card deal for balance transfers. The Halifax Plus Credit Card. 0% for 13 months on balances ...
www.halifax.co.uk
Comprehensive comparison of U.K. credit card market. Also provides information for consumers.
creditcards.moneygem.com
Related Articles
- World Cup credit card spending bonanza expected - 11th October, 2005
The English nation could spend an incredible £2 billion in support of the England team in next year's football World Cup in Germany, according to estimate figures.
The forecast from NatWest credit cards in association with MasterCard shows that 24 million people who will follow the team's fortunes during the tournament could end up spending an average of £87.26... - Credit card rates on the up - 4th October, 2005
A credit card provider has announced it is increasing its interest rates.
As many as nine million UK residents will be affected by the change, which is the result of Barclaycard consolidating 30 varying interest rates into only five... - Consumers unaware of extra credit card spending - 12th October, 2005
Many British consumers underestimate how much they spend on credit cards according to latest figures.
Research from Egg Money, which provides savings accounts, shows that on average, UK consumers believe they spend £418 on credit cards each month, whereas the Datamonitor Plastic Card report 2005 has this figure at £775... - Credit card advice from Myvesta - 6th October, 2005
People with multiple credit cards have been advised to set up an order of payment based on their cards' interest rates.
Steve Rhode, chairman of Myvesta UK, a non-profit money management organisation, is adamant that credit card customers should add up their total payments and plan repayments on the card with the highest interest rate... - Look around for the best credit card deal - 5th October, 2005
Credit card customers are being urged to look around to get the best deal and potentially save themselves pounds.
New figures released by Moneyextra state that individuals who track down the best deal on finance products were able to save almost £4,000 in the third quarter of this year... - Chip and PIN saved UK £36m - 10th October, 2005
Chip and PIN technology has saved UK consumers an estimated £36 million, new figures reveal.
The programme said the technology had slashed fraud, including the use of lost and stolen cards and counterfeiting, by almost a third... - Clear warning for costly credit card withdrawals - 30th September, 2005
Nationwide is working to improve the state of Britain's finances by adding signs to its cash machines.
The building society said it is concerned by the lack of "real progress" in protecting customers from cash machines that charge... - Brits putting Christmas on the plastic - 4th October, 2005
Brits are planning on borrowing to cover their Christmas spending a new survey reports.
With less than three months to go more than 25 per cent of respondents will be putting the Christmas costs on thief plastic – which means they had better ensure they have a good deal... - Nationwide launches credit card offers - 3rd October, 2005
The building society Nationwide has today released details about its new balance transfer and purchase offers for its classic and gold credit cards.
Customers will receive 4.9 per cent interest for a year on balance transfers from credit or store cards and the 0 per cent interest on purchases will increase to nine months from six months... - Post Office launches credit card - 30th September, 2005
The Post Office has entered the credit card field by offering a "two for one" deal, allowing flexibility when paying for large purchases.
As well as being a normal credit card, the Post Office version enables customers to switch money from the credit card account to a loan-like resource, which has a discounted interest rate of 6.8 per cent...