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Recent Data Indicates Credit Card Spending Increase Over the Holidays

by on December 29, 2011

Two recent reports suggest Americans are charging holiday purchases this year more than ever. Two weeks ago, Discover said their total number of transactions as well as their sales volume had increased during the fourth quarter. Discover, however, didn’t attribute their new-found numbers to holiday shopping. Instead, they said that most shoppers are making their cards a “primary” card instead of a secondary choice.

Their cash-back holiday promotions, though, certainly didn’t hurt their position. A Michigan retailers group also had a survey that demonstrated an increase in customer credit card use of the holidays. They found that credit card sales increased by 10 percent between Black Friday and December 11.

Both reports suggest that Americans feel a bit more secure in using their credit cards this year, and at the moment, good payment behavior seems to remain intact, which could mean good things are in store for the economy in 2012.

Source: http://www.bankrate.com/financing/credit-cards/credit-card-christmas/
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