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.

People shop on Black Friday at a mall in Hanover, Md., on Nov. 29, 2024. Madalina Vasiliu/The Epoch Times

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 by 2.4 percent year over year in October, showing the strongest annual growth since early 2024.