UK Finance – Credit Card Spending Fell 50% in First Month of Lockdown

Industry News | 15/07/20

The value of credit card transactions in April dropped to £8.7 billion, half the value compared to April 2019, UK Finance data reveals. In the first full month of social distancing measures the number of credit card transactions by UK cardholders also witnessed a sharp fall of 45.9 per cent to 163 million, the lowest level in over nine years, as borrowers cut down on credit card spending in the face of the coronavirus pandemic.