It looks like 2009 is going to be the "Year of the Debit Card." According to a US Banker poll, only 1% of U.S. Consumers are going to use their credit cards more this year. In the wake of 3% growth in 2008, look for a decline in 2009. Meanwhile, according to The Nilson Report, debit card usage grew at 13% in 2008. Look for growth in prepaid and debit cards to surge in 2009...
New Poll Finds Only One Percent of U.S. Consumers Plan to Charge More - 01..2009 - U.S. Banker Article
U.S. credit cardholders are not in the mood to charge, according to national poll results recently released by Bankrate, Inc. The phone study was conducted from December 5 through December 7.
Just one percent of those surveyed plan to charge more in 2009, while 32 percent are likely to use their cards less frequently and 15 percent won’t be taking out the plastic at all. Forty percent of these consumers wouldn’t care if their credit lines were cancelled.
As far as credit availability goes, 41 percent of those polled reported that their credit lines were increased, while 44 percent said their lines were unchanged; only six percent experienced a decrease.
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