The credit crunch and subsequent recession have dealt a heavy blow to the credit card market, affecting both providers and consumers. Tighter lending criteria are forcing providers to re-evaluate who they can afford to lend to, while consumers are having to rethink their spending habits and prioritise repayment commitments.

The next few years is set to see credit card usage and spending decline considerably in comparison to the Celtic Tiger era, and it is difficult to see how far credit card providers will have to go in terms of special offers and promotions in order to stimulate activity in the market.

The credit crunch and subsequent recession have dealt a heavy blow to the credit card market, affecting both providers and consumers. Tighter lending criteria are forcing providers to re-evaluate who they can afford to lend to, while consumers are having to rethink their spending habits and prioritise repayment commitments.

The next few years is set to see credit card usage and spending decline considerably in comparison to the Celtic Tiger era, and it is difficult to see how far credit card providers will have to go in terms of special offers and promotions in order to stimulate activity in the market.

Key themes in the report

How competitive are credit cards in relation to other forms of credit, and what role do they play?

To what extent has the credit crunch affected the spending habits of Irish consumers?

What factors are driving or impeding the growth of the credit card market?

What are the key areas of innovation in the market?