Women have been spending more with their credit cards in the past five years, and this is seen as a good thing!
According to data tabulated by United Overseas Bank (M) Bhd (UOB), women cardholders spent 125% more on their cards last year than in 2011.
On the other hand, men’s spending only rose by 71%.
The data also showed that women cardholders spend 15% more on insurance-related products and 10% more on groceries now than in 2015. Travel and lifestyle shopping grew by 28% and 14% respectively among women – twice more than men.
UOB Malaysia managing director and country head of personal financial services Ronnie Lim said this proved that women were joining the workforce and enjoying greater financial security. This is also a good sign that women were prioritising their personal development.