Debit Cards Preferred Over Credit Cards at Christmas
According to payments Association Apacs, debit cards are being used more than credit cards in the run up to Christmas.
“Spending on debit cards is predicted to increase by £3.4 billion to £20.4 billion in December, while credit card expenditure is predicted to hit £11.4 billion.”
However, online trends indicate that credit cards will make up 67% of the total £3 billion spent on plastic via the internet in December.
Sandra Quinn, director of communications at Apacs, says: “Overall our penchant for plastic continues and it looks as though this Christmas our plastic cards will continue to replace cash and cheques for our festive purchases. Over recent months we have seen that cardholders are becoming more responsible in the way that they borrow, reining in their spending and focusing on repayments.”
(Via QCK.com)
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