More Credit and Debit Cards Use By Consumers on Black Friday

Sunday, December 11th, 2011
Updated: December 11th, 2011
The content is accurate at the time of publication and is subject to change.

Expert predictions were defied with the rate at which buyers went ahead on Black Friday to purchase goods through their debit and credit cards. There has been a significant increase in the numbers this year.

Black Friday promotions presented by land based retailers saw a significant dollar amount increase in the number of transactions made on credit and debit cards of the consumers. This was reported in the data presented from SpendTrend analysis of First Data on the sales figures of Black Friday. Some part of it may be due to the fact that large retail chains started their promotions of Black Friday on Thanksgiving Day. The other reason is that the consumers continue to feel more at ease with their money.

All in all, there was a 6.3 percent increase on a year-over-year basis on the value of purchases made all through Black Friday promotions. This increase was unexpected by the experts because of the significant increase seen the year before also. According to the report the total transaction growth was at 7.3 percent, the report said. Better bargains were indicated this year as the prices for retailers diminished. There was a drop of 0.9% in the prices of the retailers and the most noteworthy drop was offered by big box appliances and electronics stores plus general products stores such as discount retailers.

The report also mentions that the spending was not just limited to the brick and mortar world. The online retail industry’s response to Black Friday is Cyber Monday, which was also a great hit with shoppers this year and the dollar volume growth was almost 20 percent.

According to division manager and senior vice president of Analytics Solutions Silvio Tavares and First Data Global Information, the publisher of SpendTrend, this holiday season spending has had a solid start and buyers responded positively to the discount prices and early openings on Black Friday. This momentum continued strongly during Cyber Monday.

It is noticed that credit cards are used more often by the shoppers during the holiday season as compared to other times. This was particularly true for Cyber Monday and Black Friday.

According to experts, the reason is that consumers feel that the bargains were too good to be missed and were inclined to augment their purchases to an amount which may not be affordable by cash on hand.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

Latest Other Card News

Tuesday, June 20th, 2023

A student loan refinancing typically involves taking out a new loan to pay off your existing debt. Refinancing student loans can potentially lower your interest rate, fees, or/and allow you to get better repayment terms, helping you save money. However, it is important to consider whether your loan is private or federal and what benefits […]

Saturday, December 26th, 2020

2020 has definitely been a very unusual and challenging year. Many of us have been waiting for its end more than ever. And now, when there is less than a week left until the beginning of the new year, it’s time to sum up the outgoing one and find out the results of the annual […]

Friday, September 11th, 2020

Walmart is finally ready to introduce a new subscription service offering free same-day delivery and fuel discount. Walmart+ was supposed to go live back in July, however, it was delayed due to the COVID-19 outbreak. Now the launch is planned to take place on September 15. The new product will help you order any goods […]

Thursday, August 27th, 2020

This month, American Express introduced its new tool called MyCredit Guide. The Amex website says: “We believe everyone should know their credit score and have the tools to understand it better.” That’s why the new feature was developed. Using the tool, you can find out your credit score and take a look at your credit report, […]

Saturday, March 7th, 2020

A virtual credit card is a unique credit card number that is linked to your main credit card account but is different from the physical card number. The virtual credit card number allows to shop online or over the phone without using your physical credit card. The numbers can usually be used once and expire if not used. The cardholders can also delete the numbers if they want or need to.

Best Credit Offer
Surge® Platinum Mastercard®
Check off the cards you want to compare. Then click the Compare link to go to the comparison table.
Consumer Rating: 4 / 5
Horizon Card Services Group One Freedom Card
Copyright © 2001-2024 BestCreditOffers.com All Rights Reserved.

See the credit card's terms and conditions on the online application page. Note that this website may be compensated by credit card issuers when the visitor applies for a card through the links on this website. We do our best to maintain all information accurate and up to date. However, we do not warrant the credit card information won't change. Click the "Apply Online" button and review the current info on the secure credit card terms page.

Information in these articles is brought to you by BestCreditOffers.com. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

The BestCreditOffers.com webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. BestCreditOffers.com does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the BestCreditOffers.com website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer. Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions.

BestCreditOffers.com makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that BestCreditOffers.com may be compensated by the credit card issuers when the readers apply for a credit card through this site.

BestCreditOffers.com is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. BestCreditOffers.com does not review or list all available financial or credit offers.

You've successfully subscribed!

Please specify the following:All these fields are optional

Thank you for providing this information! We will make sure our letters are useful for You.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.