While consumer spending is up this holiday shopping season -it looks like people are keeping their credit cards in their wallets as well.
A new survey released this week by Marist College in New York shows more than half (56%) of holiday shoppers aren’t using their credit cards to buy gifts at all this season
28% claim they’ll only swipe their credit card for a few gifts, and 18% plan to put almost all their gifts on credit cards.
What’s pretty surprising about the poll is that younger Americans are even more likely to avoid racking up huge credit card bills this season. 70% of shoppers between 18 and 29 years old won’t be using credit cards at all!
If you aren’t going to use plastic – that means you can use personal checks this Christmas. Yes it will be a little slower than those oh so easy to use cards. But the benefit is that you’ll be using money you actually have. Plus, it will cause you to slow down for a minute and think about what you are purchasing. Is it worth the price? Will the person receiving that gift really appreciate it, or will it just put a huge dent in your checking account?
The website Daily Finance points out one possible discrepancy in the study. While the majority of shopper don’t plan to use credit cards – 42% still say they plan to do some shopping online. That’s up from 37% three years ago.
If you’re not using a credit card – then you’re probably using a debit card. But can actually be less secure than a credit card when shopping online. Credit cards actually offer better fraud protection.
Read more about safe online shopping here on Check Advantage!
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