The number of people repaying their credit card in full at the end of each month has risen to 59 per cent from 56 per cent in 2004, according to new research.
Although the amount spent on credit cards has increased by one per cent to Â£124.1 billion, the number of transactions has fallen by one per cent to 2.1 billion.
The research from Apacs â€“ the UK payments association â€“ found that credit card repayments have overtaken spending for the first time and the use of debit cards has proved more popular than paying by cash.
“Nervousness about economic growth could well have contributed to the reduction in credit card spending and higher repayments, alongside media speculation about whether consumers are borrowing responsibly,” said Sandra Quinn, director of communications at Apacs.
Despite the shift in cardholder behaviour, Ms Quinn added that those looking for a credit card to use for spending or for a balance transfer still welcome the security and convenience provided by credit cards.
Indeed, the research found that credit cards are still more popular than debit cards for buying higher value or online items. By 2015, purchases made online are expected to account for more than 20 per cent of credit card payments.
In addition to forecasting payment trends, Apacs works to tackle payment-related fraud and conducts market research.
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