Credit card sales up 10% in '05

The average amount spent on each transaction was NIS 230, similar to 2004.

credit cards 88 (photo credit:)
credit cards 88
(photo credit: )
Credit card sales are estimated to have risen by just over 10% in 2005 to NIS 120 billion, boosted by a rise in spending on household goods, culture and leisure, Isracard said Wednesday. The Bank Hapoalim-owned company attributed the growth to the improvement in the economy and the security situation, which has led to increased consumer confidence and a greater readiness to purchase more goods, socialize and vacation. The average amount spent on each transaction was NIS 230, similar to 2004. Credit card spending increased sharply in poorer cities, with transactions rising 20% in Bet Shean and 17% in Sderot.