Credit card spending can be tagged and analysed through Mine. Credit card customers will be able to perform more detailed analysis of their personal spending patterns through advances in open-source tools, a technology expert has predicted.
Speaking to ZDNet.co.uk, Adriana Lukas said that the Mine project with which she is currently involved is developing new ways for customers to interact with their credit card and bank account data.
The scheme has already unveiled initial alpha code and hopes to release a freely-available HTML interface by the end of the month.
However, Ms Lukas also said that only a "moderately advanced technophile" will be able to set the service up for themselves.
Mine allows web users to capture and collate all of the data they generate through social networking websites, as well as their own "personal informatics" for financial affairs.
Ms Lukas added: "If you have a credit card statement or current account, you can tag each entry - whether it's groceries or travel - and analyse how much you're spending on it. And by mining data, you can add value that no-one else can, because it's yours and so you understand the context."
Latest figures from the Bank of England show that net credit card borrowing rose by £79m in the UK during October 2009.
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