There were an estimated 1.9 million credit card users in RoI in 2004, compared to 1.3 million credit cards in issue in the NI. The RoI market has grown by 58% since 1999, echoing the transformation that has occurred in the RoI economy in this period. Closer analysis shows that the volume of credit card transactions in RoI has increased by over 70% in this period, while the value of transactions has increased by an even more impressive 95%, indicating that RoI credit cardholders are using their credit cards for higher value purchases.

About the market:

There were an estimated 1.9 million credit card users in RoI in 2004, compared to 1.3 million credit cards in issue in the NI. The RoI market has grown by 58% since 1999, echoing the transformation that has occurred in the RoI economy in this period. Closer analysis shows that the volume of credit card transactions in RoI has increased by over 70% in this period, while the value of transactions has increased by an even more impressive 95%, indicating that RoI credit cardholders are using their credit cards for higher value purchases.

In NI in 2004, it is estimated that there were 1.3 million credit cards in issue, with multiple card ownership found to be a key factor underpinning the NI credit card market. The scenario in NI is in marked contrast to that in RoI: both the volume and value of credit card transactions are increasing, but at much different rates.

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