Money Saving E-Newsletter
Once a month - Top 10 deals - Spam free
Credit Card - Virgin - Top Banner
Bread Crumb Trail
Credit Cards
News Rise in payments made using plastic
Rise in payments made using plastic
According to UK payments association Apacs, an astonishing 497 million purchases were made on on debit cards in September, a 12.7% rise on figures taken from October.
Purchases using credit cards were also up 9.4% during the same period, ahead of gross lending which rose by only 7.4%.
One explanation for this surprise increase could be that consumers spent the £60 rebate received during September after the government scrapped the 10p rate of income tax and the rate was lowered by two pence.
Basic rate taxpayers are now receiving tax savings of £120 after Chancellor Alistair Darling brought in new measures affecting the personal allowance as backbench MPs applied pressure during the 10p tax row.
Millions of people came out with £60 more in their September pay packets and are seeing a £10 net pay rise per month for the remainder of the tax year.
The figures show that the total value and volume of purchases was greater in September than in any month last year.
Sandra Quinn, of Apacs, suggested that the figures were not a sign that consumers were dismissing the economic slowdown and spending more.
Figures in September tend to include some holiday spending from the end of August so this could also explain the rise.
Another theory is that home-owners who have decided to stay put during the housing market slowdown could have been spending more on improving their homes.
There are 31 million people in the UK that own credit cards, and 42 million people with debit cards.
Tuesday, 18 November 2008 14:33
Make a comment on this article
| Card | Issuer | Balance Transfers | Purchases | Typical APR (variable) | Apply | |||
|---|---|---|---|---|---|---|---|---|
| Rate | Duration | Fee | Rate | Duration | ||||
 |
16 months 0% Balance Transfers
& 6 months 0% Purchases |
0% | 16 mths | 2.98% | 0% | 6 mths |
16.3%
|
|
 |
0% Balance Transfers until Feb'10
& 0% Purchases until April'09 |
0% | until Feb 2010 | 2.90% | 0% | until Apr 2009 |
15.9%
|
|
 |
12 months 0% Balance Transfers
& 3 months 0% Purchases |
0% | 12 mths | 3% | 0% | 3 mths |
15.9%
|
|
 |
£1 = 1 Reward point, Redeem for holidays, electricals, etc
|
0% | 13 mths | 2.90% | 0% | 3 mths |
15.9%
|
|
 |
6 months 0% on Purchases
& Collect Reward Points |
N/A | N/A | N/A | 0% | 6 mths |
17.9%
|
|
Introductory Offer
- Balance Transfer Rate:
- 0% for 16 mths
- Balance Transfer Fee:
- 2.98%
- Purchase Rate:
- 0% for 6 mths
Typical APR
- Purchases:
- 16.3% p.a.
- Balance Transfers:
- 16.3% p.a.
- Cash Advance:
- 24.9% p.a.
Standard Features
- Credit Limit:
- Subject to Status
- Interest Free Days:
- Up to 50 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 18 Years of Age
- You have a Good Credit History
- You are a permanent resident/citizen of the UK
- You have a Bank or Building society account
- Any Income Considered
Introductory Offer
- Balance Transfer Rate:
- 0% until Feb 2010
- Balance Transfer Fee:
- 2.90%
- Purchase Rate:
- 0% until Apr 2009
Typical APR
- Purchases:
- 15.9% p.a.
- Balance Transfers:
- 15.9% p.a.
- Cash Advance:
- 24.9% p.a.
Standard Features
- Credit Limit:
- £50,000
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 18 Years of Age
- You have a Good Credit History
- You are a permanent resident/citizen of the UK
- Any Income Considered
Introductory Offer
- Balance Transfer Rate:
- 0% for 12 mths
- Balance Transfer Fee:
- 3%
- Purchase Rate:
- 0% for 3 mths
Typical APR
- Purchases:
- 15.9% p.a.
- Balance Transfers:
- 15.9% p.a.
- Cash Advance:
- 27.9% p.a.
Standard Features
- Credit Limit:
- £50,000
- Interest Free Days:
- Up to 58 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 18 Years of Age
- You have a Good Credit History
- You are a permanent resident/citizen of the UK
- Any Income Considered
Introductory Offer
- Balance Transfer Rate:
- 0% for 13 mths
- Balance Transfer Fee:
- 2.90%
- Purchase Rate:
- 0% for 3 mths
Typical APR
- Purchases:
- 15.9% p.a.
- Balance Transfers:
- 15.9% p.a.
- Cash Advance:
- 24.9% p.a.
Standard Features
- Credit Limit:
- £50,000
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 18 Years of Age
- You have a Good Credit History
- You are a permanent resident/citizen of the UK
- Any Income Considered
Introductory Offer
- Balance Transfer Rate:
- N/A
- Balance Transfer Fee:
- N/A
- Purchase Rate:
- 0% for 6 mths
Typical APR
- Purchases:
- 17.9% p.a.
- Balance Transfers:
- 17.9% p.a.
- Cash Advance:
- 27.9% p.a.
Standard Features
- Credit Limit:
- £25000
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 18 Years of Age
- You have a Good Credit History
- You are a permanent resident/citizen of the UK
- You have a bank or building society account
- You have a Household income of over £20,000.pa
Introductory Offer
- Balance Transfer Rate:
- 0% for 12 mths
- Balance Transfer Fee:
- 3%
- Purchase Rate:
- 0% for 3 mths
Typical APR
- Purchases:
- 15.9% p.a.
- Balance Transfers:
- 15.9% p.a.
- Cash Advance:
- 27.9% p.a.
Standard Features
- Credit Limit:
- £50,000
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 18 Years of Age
- You have a Good Credit History
- You are a permanent resident/citizen of the UK
- Any Income Considered
Introductory Offer
- Balance Transfer Rate:
- 0% for 9 mths
- Balance Transfer Fee:
- 2.99%
- Purchase Rate:
- 0% for 3 mths
Typical APR
- Purchases:
- 17.9% p.a.
- Balance Transfers:
- 17.9% p.a.
- Cash Advance:
- 29.9% p.a.
Standard Features
- Credit Limit:
- Subject to Status
- Interest Free Days:
- Up to 46 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 18 Years of Age
- You have a Good Credit History
- You are a permanent resident/citizen of the UK
- Have a regular income
- You have an income over £20,000 p.a
Introductory Offer
- Balance Transfer Rate:
- N/A
- Balance Transfer Fee:
- N/A
- Purchase Rate:
- N/A
Typical APR
- Purchases:
- 6.80% p.a.
- Balance Transfers:
- 6.80% p.a.
- Cash Advance:
- 15.8% p.a.
Standard Features
- Credit Limit:
- Subject to Status
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 21Years of Age
- You have a Good Credit History
- You are a permanent resident/citizen of the UK
- You have a bank or building society account
- You have an income over £20,000 p.a
Introductory Offer
- Balance Transfer Rate:
- N/A
- Balance Transfer Fee:
- N/A
- Purchase Rate:
- N/A
Typical APR
- Purchases:
- 27.9% p.a.
- Balance Transfers:
- 27.9% p.a.
- Cash Advance:
- 27.9% p.a.
Standard Features
- Credit Limit:
- 2,000
- Interest Free Days:
- Up to 56 days
- Online Banking:
- Yes
Approval Criteria
- You are at least 18 Years of Age
- Have a permanent UK address for 3 months or more
- Haven't missed multiple payments on a credit agreement within the last 12 months
- Don't have a CCJ (County Court Judgement) or IVA (Individual Voluntary Arrangement) and haven't been registered bankrupt
- You have an income over £10,000 p.a
Editors Choice
Virgin Credit Card
Offering a marketing beating 16 months 0% on Balance Transfers and 6 months 0% Purchases the Virgin Card is setting new levels with this extraordinary offer...
Apply >
