Credit card growth broadly flat

Published on 17 May 2010 by Raffick Marday

Credit card growth broadly flatApril only saw a small increase in credit card spending, compared to a massive leap in March, new figures reveal.

The Barclaycard Retail Card Spending Index reveals that there was an increase of just 0.8 per cent last month, compared to 18 per cent previously.

However, the growth between April 2009 and this year is nearly 9 per cent (8.9 per cent).

Looking forward, Stuart Neal of Barclaycard expects credit and debit card spending to be “broadly flat again”.

By way of example, he produced the figures for the May Day bank holiday and revealed that they were down slightly (1.4 per cent) on the same bank holiday in 2009.

He commented that “It seems that this May Day, consumers haven’t been tempted by retailers to get out and spend”.

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