Card spending kept to a minimum

Spending on payment cards increased at a very low rate in November 2008, compared with the year before, and fell 9% from October 2008. The number of purchases using credit cards also fell. The level of credit card debt increased 1% to $45.3 billion.

Total credit and charge card balances outstanding have risen by 8% over the past 12 months, compared with an average of 13% over the preceding five years.