Dining out fuels credit card use
News from National Business Review:

Drinks and dinners out were the main reason we spent slightly more on our credit cards last month.

Kiwis upped their use of credit cards by 0.5% when it came to everyday purchases during July with money spent at bars, cafes, and restaurants and on takeaways fuelling the rise.

But a bigger measure of spending that includes the value of car and vehicle-related spending was flat – up just 0.2% – according to Statistics New Zealand.

The value of transactions in the hospitality industry alone was up 1.5 percent in July, continuing steady gains made since March.

Fuel sales fell 1.4% after falling 3.7% in June and 4.6% in May.

Statistics New Zealand data reveals the value of credit card transactions have been on the rise since January 2009, accelerating since December 2010.

Investment bank J.P Morgan said the strength in consumer spending was surprising in the wake of the string of earthquakes to hit Canterbury earlier this year.

“While reco…………… continues on National Business Review
… Read the full article
.

Related News:

7 reasons to choose credit, not debit
News from NASDAQ:

Debit card use has increased significantly during the recent economic downturn, particularly for smaller purchases, according to Pulse. But it’s too soon to predict the demise of the credit card. For those who use credit responsibly, credit cards are still king.

The prudent use of credit cards can help you tremendously when it comes to buying a home, buying a car or securing a bank loan. Debit cards, since they draw from existing funds in your bank account, are more for convenience than for establishing financial trust, and as such they aren’t nearly as powerful a financial tool as a credit card.

Here are 7 things credit cards do that debit cards can’t.

  1. Improve your credit score: Making regular payments on a credit card is one of the best ways to improve your

… Read the full article