Economy

US Credit and Debit Card Spending Posts Largest Increase Since Early 2024

Typically, more than 20 percent of purchases, including electronics, clothing, and jewelry, are made during November and December.
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US Credit and Debit Card Spending Posts Largest Increase Since Early 2024
People shop on Black Friday at a mall in Hanover, Md., on Nov. 29, 2024. Madalina Vasiliu/The Epoch Times
Mary Prenon
Mary Prenon
Freelance Reporter
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Americans are giving their debit and credit cards a harder workout this year.

A Nov. 12 report from Bank of America (BOA) found that total credit and debit card spending per household jumped 2.4 percent year over year in October, showing the strongest annual growth since early 2024.
Mary Prenon
Mary Prenon
Freelance Reporter
Mary T. Prenon covers real estate and business. She has been a writer and reporter for over 25 years with various print and broadcast media in New York.