Credit card spending slows
News from Financial Times:

Credit cards have fallen out of favour with British shoppers, as consumers eschew high interest rates in favour of sensible spending and turn to debit cards.

Some 40 years after they were introduced, credit cards have suffered a reversal in popularity after years of growth.

Figures from the UK Cards Association, passed to the Financial Times, reveal that debit cards outnumber credit cards, indicating a big change in consumer attitudes to spending and borrowing during the past decade.

Between 2000 and 2005 credit card use in the UK accelerated, as high consumer appetite for borrowing and fierce competition from providers drove up demand. The number of cards in this period rose from 47m to 70m.

But in the middle of the decade borrowers re-thought their spending habits, and reduced their credit card use years before the credit crisis came along.

Paul Rodford, head of card payments at the UK Card A…………… continues on Financial Times

… Read the full article
.

Related News:

Glendale police arrest credit card worker in identity theft
News from AZ Central.com:

by Morgan Tanabe – Sept. 23, 2011 05:40 PM
The Arizona Republic-12 News Breaking News Team

Glendale police arrested a credit card company worker and her boyfriend suspected of identity theft and the use of a stolen credit card, according to a court document.

Las Vegas resident Amanda Shepherd, who works as a customer service representative at Citi Cards, was arrested Tuesday. George Nelson was arrested on Sept. 2.

The court filing said Nelson used a stolen credit card to purchase $ 14,725 in merchandise from multiple stores in Glendale and around the Valley over a two-day period in August and September. Some of the items included an Apple iPad 2 from a Walmart and a $ 6,820 diamond ring from Zales at Paradise Valley Mall, the filing said.

…………… continues on AZ Central.com

… Read the full article