The highest amount ever spent on debit and credit cards in the UK has been recorded for 2006, according to new figures.
Data released by Apacs, the UK payments association, showed that Britons splashed out a collective £321 billion on their debit and credit cards over the course of last year, representing a more than 300 per cent rise over the last ten years.
Additionally, plastic accounted for about one-third of all consumer spending in the UK, with credit cards accounting for 39 per cent of the total card expenditure.
Credit card expenditure was £126 billion, more than double the amount spent in 1996 through the same channel.
Sandra Quinn, director of communications at Apacs, commented: "Consumers enjoy the ease and convenience plastic cards bring and today most retailers and supermarkets take plastic, as do an increasing number of professional service providers."
Many financial services providers offer credit cards targeted specifically at different audience, with balance transfer cards and those that offer low rates on purchases available, as well as cards designed to provide assistance to selected charities or ethical projects.
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