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Credit card spending bounces back, finds Citi
Credit card spending bounces back, finds Citi Wednesday, 3 March 2021
Popular bank and credit card provider Citi is calling it “business as usual” as customer spending made a comeback in February.
According to the bank’s recent Credit Card Index, the daily average spend last month spiked by 28%. This is after a 19% drop in January.
“As anticipated, spend has increased significantly in February following January s holiday season spending hangover,” said Choong Yu Lum, head of credit cards at Citi Australia.
“February’s 28% spike in daily spend has recovered of pre-COVID levels, indicating the new year is in full swing and consumers are making the most of a predominantly lockdown-free month.”