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Meltdown on Friday 13th with Credit Card spend set to peak at £400 million

LONDON, December 12th, 2013.

Consumers will have a ‘fan-plastic’ time as they are expected to carry out over nine million transactions worth £42.

  • The big day: Friday 13th December is set to be the biggest credit card spending day of the year as consumers add £400 million to their credit card debts making 9.4 million transactions, each one for an average of £42
  • Plastic fantastic: Debit cards still garner favour on the big day with spend hitting £470 million for almost 14 million purchases at an average value of £34. This accounts for 54% of the total plastic spend at £870 million.
  • Friday 13th unlucky for employers: At 11.10am it’s party time for consumers. During this hour, £224 million will be spent across all channels (£3.73 million per minute)which could slow down productivity.
  • Online: Online shopping will account for a quarter of spending on 13th December; the only place where more people use credit (45%) than debit cards (43%) in December. By 2018, 46% of consumers will use credit vs.42% debit.
  • Year on year: Compared to the biggest plastic spending day in 2012, consumers will spend 6.2% more on their credit cards. The biggest growth is expected in mobile spending, set to rise 238% from £9 million to £30 million

With the Christmas countdown well underway, a new study released today by in partnership with the Centre for Retail Research, reveals that Friday 13th December is the biggest credit card spending day of the year. Throughout ‘Plastic Fantastic’ day consumers are predicted to make 23.2 million transactions worth £870 million, with almost half of this spend (£400 million or 9.4 million transactions) carried out on credit cards compared to £470 million on debit. Credit card debt has been creeping up throughout the year and this trend looks set to continue as credit card spending on the biggest day of the year is 6.2% higher than the same day in 2012. Research also reveals that this spending frenzy is predicted to peak at 11.10am as consumers rush around to secure this year’s Christmas must haves for loved ones, beating plummeting stock levels and online postage deadlines. However, this activity may not garner the same festive goodwill for some employers as productivity in the workplace could be hampered as consumers spend £3.73 million per minute. Across all channels, both online and offline, a whopping £1.3bn is expected to be spent on this day. December’s credit cracker Total retail spending in December is expected to hit £36bn, 4% higher than last year. More than a quarter of this spend will be on credit cards as consumers delay payment for over £9bn worth of shopping. Overall, this figure is dwarfed by 38% of consumers that are more comfortable using debit cards spending more than £13bn. However, using a debit card could mean that people miss out as credit card customers can benefit from an average interest free period of 56 days, section 75 protection against issues with purchases and benefits such as cashback and rewards. Plastic Fantastic online More than a quarter (26%) of all plastic transactions will be carried out online totalling £342 million, up 50% from £228 million on the same day in 2012. In total, 91% of consumers shopping online are expected to use a PC but almost one in ten purchases will be made using a smart phone or tablet. Overall mobile shopping is predicted to increase by 238% on Plastic Fantastic day rising from almost £9 million in 2012 to £30 million this year. Yet again technology causes pain for the high street as spend offline on Friday 13th is expected to fall by 5%. When it comes to payment methods for online shopping, the credit/debit card usage ratio swings favourably towards credit. Throughout December, 45% of people will use credit cards online compared to 43% on debit which is a trend that is set to continue reaching 46% and 42% respectively by 2018. This has not always been the case, in 2008 52% of consumers used credit cards to shop compared to 35% on debit. Will Becker, CEO and co-founder of comments: “Another great day for retailers following the huge success of Black Friday and Cyber Monday. However, these well established and well publicised dates are becoming self-fulfilling prophecies as retailers focus marketing campaigns and offers around them to cash in on the hype. Friday 13th is also a big deal for retailers as reports indicate that Cyber Monday generated £600 million for online retailers, this is a third less than the £870 million spent on cards on ‘Plastic Fantastic’ day. Let’s hope providers can cope with the sharp increase in transactions and consumers are not left high and dry as they were on Cyber Monday. “There is still a trend amongst consumers to reach for their debit card to pay for purchases instead of credit cards. With 61% of all adults owning a credit card it seems a shame to miss out on benefits such as Section 75 protection and potential cashback and reward deals that support a large proportion of today’s credit cards. Credit cards can be the best form of payment if consumers use them responsibly and only spend what they can afford to pay off. In an ideal world we would like to see people carrying out all their spending on a cashback credit card, potentially receiving an average of 1% for every purchase made if they pay their bill off in full every month.” To research the best credit card deals available, visit The website enables consumers to see exactly how much money they will earn or save by switching to the best deals based on annual spend, borrowing and repayments. It also identifies which of these deals consumers are actually eligible for currently a major inefficiency with rejection rates hitting 70%.


About, launched in 2007, is the UK’s leading credit-focussed comparison website which sets out to make it simpler for consumers to compare credit cards, loans and mortgages. With a revolutionary approach to credit comparison, uses exceptional comparison tools to empower people to make better financial choices. As part of the Media Ingenuity Group, sits alongside affinity credit card brands. Fluid is a portfolio of market leading ‘prime’ products issued in partnership with MBNA, Luma a ‘sub-prime’ credit card partnership with Capital One and Granite card with Vanquis Bank. Being both a credit comparison service and a marketer of credit card brands gives the business a unique and in-depth perspective of the industry.

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