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Credit and Other Finance Cards Market Report

  • ID: 3593
  • January 1999
  • Region: United Kingdom
  • Key Note Ltd
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According to the Association of Payment Clearing Services (Apacs), by the end of 1998, the total number of plastic cards of all types in issue in the UK reached 112 million. Standalone Automated Teller Machine (ATM), cheque guarantee and Eurocheque cards continued to decline, whilst credit, charge and debit cards increased by 12%.

The UK credit card market is in a highly competitive phase, as many new issuers try to lure customers away from the traditional card companies through the offers of bonus incentives and cut-price interest rates. According to one leading magazine, the top acquirer - measured in number of transactions - is NatWest Streamline, closely followed by Barclaycard. When considered in terms of the number of cards in issue, Barclays Bank PLC is in the lead, followed by Lloyds TSB Bank PLC.

Consumers in the UK prefer to use debit cards when purchasing food and drink, but the reverse is true when spending on the home, or for travel and entertainment. Credit cards are now increasingly used for unsecured borrowing. Research suggests that more than one-fifth of all short-term money is borrowed on a card, and less than a quarter of such borrowers pay off the READ MORE >

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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