UK Finance publishes card spending update for November 2019

Industry News | 14/02/20

UK Finance has published its latest Card Spending Update, outlining the data for spending on card transactions by UK cardholders in November 2019. The update shows there were 1.6 billion transactions on debit cards in November 2019, 8.8 per cent more than on the same month in 2018. This reflected a total spend of £51.2 billion, 2.6 per cent more than in the same period in 2018. Meanwhile, there were 295 million transactions on credit cards in November 2019, up 0.4 per cent year-on-year. The total spend on credit cards was £16.5 billion, representing 2.0 per cent less than in the same period a year earlier. The annual growth rate of outstanding balances on credit cards stood at 2.4 per cent in November 2019, continuing the downward trend from its recent peak of 8.3 per cent at the start of 2018.