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Credit Card Spending to Rise 3%

NAPLES, Fla. -- Consumers are still going to use their cards over the holiday shopping season, but significantly less than they have in previous years, according to a Web site that tracks card trends.

NAPLES, Fla. — Consumers are still going to use their cards over the holiday shopping season, but significantly less than they have in previous years, according to a Web site that tracks card trends.Cardtrak.com expects credit card spending to rise 3% between Thanksgiving and Christmas this year, less than half the 10% increase in card spending 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.com 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.–[email protected]

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