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Published: 6 May 2009

Credit card sales exceeded EUR 8 billion in 2008

In 2008, the value of sales transactions made with domestic credit cards amounted to EUR 8.2 billion in Finland. The value increased by 11 per cent from the previous year. The industry of trade accounted for the largest share of 43 per cent of the credit card sales. Service stations accounted for the second largest share of 37 per cent of the card sales. Besides for purchases, domestic cards were used in Finland for making cash withdrawals and bank transfers to the value of EUR 1.6 billion, which was 19 per cent more than in 2007.

Domestic credit cards were used abroad for making purchases and cash withdrawals to the value of EUR 2 billion. The value of transactions made with foreign cards in Finland was EUR 1.3 billion. A total of 161 million purchase transactions were recorded for domestic cards in Finland and abroad. Thus, the average size per purchase was EUR 62.

There were 3.5 million active credit card accounts in Finland in 2008, so their number remained almost unchanged from the year before. Thirty-three per cent of the card accounts were charge card accounts and 67 per cent actual credit card accounts. The average number of purchases recorded per year for an active card account was 46. Accounts that have been used at least once during the year are regarded as active card accounts. No statistics are compiled on the numbers of the cards themselves as several cards may be issued for one card account.At the end of 2008, the stock of credit card debt totalled EUR 2.9 billion, which was four per cent higher than at the end of 2007. Households held 82 per cent and enterprises and self-employed persons 18 per cent of the credit card debt. Over the year, credit card accounts generated EUR 32 million bad card debts and 51,570 accounts were closed due to delayed repayments

In these statistics the term credit card is used as a general term. Credit cards can be further classified according to two characteristics: by mode of payment to actual credit cards and charge cards, and by validity to general and special cards. Direct debit cards and online cards are not included in these statistics.

Active card accounts in 1990–2008, 1 000 accounts

Source: Credit cards 2008, Statistics Finland

Inquiries: Hilkka Jaatinen (09) 1734 3630, Niina Suutarinen (09) 1734 3325

Director in charge: Ari Tyrkkö

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Updated 6.5.2009