Consumer Credit Card Usage Falls

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Consumer Credit Card Usage Falls

03/29/2010
NEW YORK -- Cash is becoming king again in post-recession America, as consumers back off the use of checks and credit cards, debit card use moves toward saturation, online payment options proliferate and contactless payments and mobile payments move closer on the horizon, according to Packaged Facts' new Consumer Payment Trends report.

Some 54 percent of U.S. adults cited cash as their preferred form of payment, according to the market research publisher, which relied primarily on data compiled by Experian Simmons Spring 2009 adult consumer survey.

Nearly seven in 10 (68 percent) of American adults have a debit card in their wallet and 67 percent have a credit card. However, only 53 percent of adults may be considered active credit card users with transactions in the last 30 days.

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