For the first time in twenty years, credit card purchases took over debit cards. According to the Nilson Report, credit cards accounted for 52.82% of spending in 2012 compared to 47.18% for debit cards. The Nilson Report also predicts that credit card transactions will be up to 54.72% by 2017.
If you have credit card debt and are struggling to pay it down, consider settling the debt and switching to debit cards. You may not get points, but it is better than suffering under absurdly high interest rates and late fees.
Kevin Fallon McCarthy
Latest posts by Kevin Fallon McCarthy (see all)
- Different Ways to Get Out of Debt - January 22, 2019
- Public Servants’ Second Chance at Federal Student Loan Forgiveness - April 10, 2018
- CREDIT CARD LOSS FOR SMALL BANKS AT AN EIGHT YEAR HIGH - March 22, 2018
- Rise of the Jumbo Student Loans - March 17, 2018
- Credit Card Market: Now and Then - February 23, 2018