NAPLES, Fla. — Cardtrak.com, an Internet site that tracks card trends, expects credit card spending to rise 3% between Thanksgiving and Christmas this year, less than half the 10% increase card spending saw during the same period last year.
The card data site expects that signature debit spending to increase by 7.2% while store credit cards will increase by 1.6% and credit card purchase volume is expected to rise by 1.4%.
Cardtrack cited the slightly shorter holiday shopping season, lower consumer spending and a reluctance among many credit card issuers to extend more credit for the slower card spending.
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