Using debit cards for adult chat
Future cardholding growth is expected to be largely driven by population growth.
Domestic debit card spending continued to increase month-on-month, rising by a further 0.5% in October 2017, when compared to the previous month.
Traditionally, Premium cards (gold and platinum) are perceived as reserved for the lowest-risk, best-quality accounts.
The FICO Benchmark Reporting Service data for the UK reveals that in July 2017 25% of the accounts in the FICO Benchmark Reporting Service were Premium accounts, along with 25% of balances.
This decrease, in part, highlights that sterling's purchasing power abroad has weakened considerably since the Brexit vote.
On a total basis, sales rose 1.5% in November, against a growth of 1.3% in November 2016.
The average number of transactions made per debit card abroad throughout October was 1.23, compared to 1.35 in October 2017.
While credit card spending increased by £3.9 billion during 2016, borrowings increased by £3.2 billion.
Full-time employees are much more likely to hold both debit and credit cards than other groups.
This is also true for those in higher income brackets compared to lower income brackets.Online spending has been growing in prominence in recent years, driven by the proliferation of smart phones and tablets.Of the £174.5 billion in card spending during the quarter, 27% was via the internet.Market Trends Despite underlying headwinds in the economy - slowdown in economic growth, rising inflation and deteriorating consumer confidence - payment card transactions continued to grow strongly in Q3 of 2017.