Barclaycard credit card spending index up 7.1%

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Barclaycard credit card spending index up 7.1%

Thu 25th Mar 2010

Stuart Neal, head of UK Payment Acceptance, suggested that retailers should be optimistic given the figures from the banking survey, although the amount had fallen by 2.5 per cent since January 2010.

He commented: "The small drop from last month is typical … at this time of year and is caused by the residual effects of the January sales."

The AA recently made a speech at the Institute of Economic Affairs, which suggested that society was becoming divided into those who can and cannot obtain credit.

Mark Huggins, director of AA Financial Services, said that while the industry needs to be more responsible when it comes to lending, creditworthy customers should not be excluded. He suggested he would like to see the sector work together to solve the issue.

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