UK credit card use rises in 2011
The number of credit card transactions in the UK last year rose by one per cent in 2011
Britons increasingly used their credit cards to make purchases in 2011, according to new research.
Spanish bank Santander has published a report which shows that the number of credit card transactions in the UK last year rose by one per cent compared to 2010.
Despite the rise in use, the total value of credit card transactions made last year fell by four per cent as Brits cut back on the amount they spent on luxuries.
Credit card spending in sport and toy outlets dropped by 24 per cent per user, while travel agencies posted a 13 per cent fall in revenue from credit card sales. Meanwhile, credit card spending on utility bills and at petrol stations increased as Brits focused on the essentials.
Callum Gibson, managing director at Santander Cards, said: "During times of austerity, you'd expect cutbacks to hit non-essential items like holidays and clothes, and our customer data supports this.
"However, while we've seen a drop in overall spend people are using their cards more - as demonstrated by the increase in number of transactions."
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