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Halifax: Coming to America: UK consumers spending more on credit cards in USA than any other country

Halifax: Coming to America: UK consumers spending more on credit cards in USA than any other country

  • Other
  • The USA tops the holiday hotspot charts in terms of the total amount spent and the total number of credit card transactions carried out by Brits abroad, according to data from Halifax.
  • Lloyds Banking Group
  • http://www.lloydsbankinggroup.com
  • careers@lloydsbanking.com
  • http://www.lloydsbankinggroup.com/Media/Press-Releases/2014/halifax/coming-to-america-uk-consumers-spending-more-on-credit-cards-in-usa-than-any-other-country/

More UK travellers used their credit card in the USA than in any other country in 2013, and the total amount spent on credit in the USA was almost as much as amount spent in France and Spain added together*.

New Zealand top for transaction sizes

At same time the USA registers just 7th in terms of the average spend per account (£229.99) and 8th in terms of the average transaction size (£62.85).

New Zealand and Australia continue to head up the spending league for UK travellers using their credit cards aboard, with an average per traveller spend of £472.72 for those going to New Zealand and £393.81 for those going to Australia. However, in terms of the highest average transaction cost, it is Italy which tops the table at £146.15.

Alan Brindley, Halifax credit cards, says:

“While more people travel to Europe than go long haul, overall credit card spending in the US by UK travellers continued to dwarf that in all other countries last year.

“Credit card usage overseas – especially long haul to countries like the USA – is increasingly common as it offers protection on purchases and is readily accepted in many outlets.

We’re all going on a summer holiday

As the economic recovery takes hold, the data shows a 16% increase in year on year spending on credit cards overseas between 2012 and 2013. And recent consumer research from Halifax shows these figures are likely to increase in the next 12 months**.

It found the number of people taking their main holiday abroad is on the rise, with more than half (56%) of us reporting that we’ll be heading overseas on holiday this year (compared to 45% in 2013).

At the same time, the cost of the average overseas holiday has increased by 7% since 2013, and now costs £1,404 per person*. With the increase largely attributed to greater discretionary spending on things like food, drinks, and entertainment while away, rather than higher transport and accommodation costs.

Alan Brindley says:

“The average cost of holidays has increased in the last 12 months, but when it comes to booking a holiday, a credit card can help to spread the cost. And the Halifax Clarity Credit Card can also give customers better value and added convenience when travelling abroad as there are no fees for overseas spending or cash withdrawals.”

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