Official figures say credit card usage is down, but are some having to use their cards more?

Industry News | 19/11/20

For some, the absence of holidays and a reduced need for big ticket items meant that during the height of lockdown there was little to buy with a credit card. Indeed, official figures from July showed that, overall, the value of transactions was down year on year by 25%.

However, new research indicates that not everyone may have been using their card less throughout lockdown. The study, from personal finance comparison site, found that over 2 in 5 credit card holders (43%) used, and are continuing to use, their credit cards more than they did before lockdown started in March.

Source: Global Banking and Finance