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Survey: Credit Cards Continue to Give Ground to Debit, Cash |
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A survey commissioned by the retail industry says shoppers will continue to move away from credit cards and twoard cash and debit in paying for their holiday shopping.
The percentage of shoppers using credit cards in the critical holiday season is expected to decline 10.1 percent this year to 28.3 percent. Last year, the percentage was 31.5, according to a survey released on recently by the National Retail Federation (NRF) and BIGresearch.
Cash as a payment method is making up the difference, with a quarter of shoppers expecting to use paper, up 9.1 percent from the 2008 holiday season.
The survey's results confirm earlier research data that inidicates consumers have moved away from credit and turned to cash or debit cards in an attempt to better control their finances and limit borrowing.
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