Credit card sales soar in 2006

Credit card sales in 2006 reached NIS 132 billion, growing 9.6 percent from 2005, according to research conducted by BDI-Coface.

Credit card sales in 2006 reached NIS 132 billion, growing 9.6 percent from 2005, according to research conducted by BDI-Coface. Most of the sales resulted from purchases of food and drink, services, such as phone and Internet lines, and manufactured products, including electronic and electrical items. Of the approximately 5 million credit cards in use during 2006, 90% were issued by either Isracard, Cal or LeumiCard. Isracard had almost half of the credit card market share, with 48%, and recorded revenues of some NIS 1.076b., while both Cal and LeumiCard had 26% of the market. Cal reported revenues of NIS 802m., while LeumiCard followed with revenues of some NIS 585m, BDI-Coface said. BDI noted that new varieties of credit cards would be introduced to the Israeli consumer this year, such as "pre-paid" cards and "premium" cards with higher credit lines.