Latest UK Finance data revealed £1.8 billion credit card balance transfer activity in January
- Argentum Capital Partners
- Apr 19, 2024
- 1 min read
There were 347.9 million credit card transactions, totaling £20.4 billion, 8.4 % higher than January 2023. Outstanding balances grew by 9.4 % over the twelve months to January, with 50.5 % incurring interest. Debit card transactions totaled 2.06 billion, spending £64.6 billion, 0.8 % lower than January 2023. Contactless payments accounted for 62 % of all credit card and 74 % of all debit card transactions, with a total value of £21.5 billion in January, a 5.5 % increase on the previous year.
With UK credit card activity hitting £1.8 billion in balance transfers and over 347 million transactions in January alone, managing your card usage has never been more important. If you're using the Milestone Mastercard, it's crucial to stay on top of your balance and interest charges through mymilestonecard.com. For guidance on logging in or understanding your account features, myMilestonecard.wiki offers a clear, user-friendly walkthrough.