The Los Angeles Times reports on a new National Retail Federation (NRF) survey indicating that during the upcoming end-of-year holiday season, Americans will be moving away from their traditional use of credit cards and instead will be using debit cards and - gasp! - cash.
According to the story, the survey “found that 43% of holiday shoppers will rely on debit cards as their primary form of payment and 25.7% will mainly use cash, both slight increases over last year.
“Roughly a quarter (27.6%) of shoppers plan to charge most of their gifts. That's the lowest reliance on credit cards since 2002, the retail trade group said, when just 26.8% of consumers said credit cards would be their main form of payment for the holidays.
“The percentage of shoppers who say credit cards are their No. 1 choice has fallen every year since 2007, likely a reflection of constrained spending habits because of the recession.”
According to the story, the survey “found that 43% of holiday shoppers will rely on debit cards as their primary form of payment and 25.7% will mainly use cash, both slight increases over last year.
“Roughly a quarter (27.6%) of shoppers plan to charge most of their gifts. That's the lowest reliance on credit cards since 2002, the retail trade group said, when just 26.8% of consumers said credit cards would be their main form of payment for the holidays.
“The percentage of shoppers who say credit cards are their No. 1 choice has fallen every year since 2007, likely a reflection of constrained spending habits because of the recession.”
- KC's View:
