Credit cards get Christmas workout

Last updated 16:22 24/01/2014

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Christmas shoppers gave their credit cards a workout with spending on the plastic up nearly 5 per cent in December compared to the same month in 2012, according to Reserve Bank figures.

Total credit card spending for December was $3.5 billion, up a seasonally adjusted 4.7 per cent, but was down 1.2 per cent compared to November despite $521 million more being spent in December.

The data showed domestic spending on New Zealand-issued cards totalled $3.1b, down a seasonally adjusted 1.3 per cent compared to November.

Overseas spending on domestically issued credit cards was up 0.6 per cent to $316m compared to November.

Domestic spending on internationally issued credit cards amounted to $223m.

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