Another Report Shows Increased Credit Card Volume

Another Report Shows Increased Credit Card Volume

July 21, 2011         Written By Lynn Oldshue

In June, credit card dollar volume grew 10.7 percent from a year ago, according to a SpendTrend report released last week by First Data. This was the largest increase in over a year.

Recent figures from the Federal Reserve point to the same trend. Revolving credit, primarily credit card balances, increased by $3.37 billion to $793.1 billion in May from an almost seven-year low of $789.8 billion in April.

The SpendTrend report also shows credit cards were the main payment type for the second month in a row. As the cost of food and gas increase, consumers seem to be using credit cards more to pay for basic necessities.

The report tracks same-store consumer spending by credit, signature debit, PIN debit, EBT cards and checks at U.S. merchant locations.

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The information contained within this article was accurate as of July 21, 2011. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
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