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Christmas shopping on credit cards up 22% this decade

The amount spent on Christmas shopping using a credit card has increased by 22 per cent over the last decade.

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23 November 2013

Christmas shopping on credit cards up 22% this decade

Over the last ten years, the amount of Christmas shopping done using credit cards has increased by 22 per cent according to the Payments Council.

According to its figures, published by the UK Cards Association in UK Plastic Cards 2013, £14.1 billion is predicted to be spent using credit cards this December.

During December 2012, £13.9 billion was used to buy Christmas shopping while £11.6 billion was spent during this period in 2003.

Overall, 12 per cent of Christmas shopping done using a credit or debit card is predicted to be online this December.

The council predicts that £4.7 billion of Christmas shopping done using a credit card will be completed online.

Between 2003 and 2012 spending online using a credit card during December has increased by 279 per cent; from £1.24 billion to £4.25 billion.

Spending using cash is predicted to remain flat while paying for Christmas presents using a cheque is set to decrease by 11 per cent.

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