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.
Latest posts by Kevin Fallon McCarthy (see all)
- Make Your Credit Cards Work for You - January 23, 2018
- Private Student Loan Debt Affect Holiday Shopping - November 30, 2017
- Problems With Debt Settlement Companies: Freedom Debt Relief - November 21, 2017