Consumers Use Debit Cards Over Credit Cards

Research shows a strong preference for debit versus credit cards.
February 21, 2018


NEW YORK CITY – More consumers favor paying with their debit card instead of a credit card, Digital Transactions reports. A new report by Auriemma Consulting Group found that during the fourth quarter of 2017, 61% of consumers said they used a debit card more frequently, up from 52% the prior year’s four quarter.

“Based on our consumer self-reported research, we have already begun to see [year-over-year] increases in debit card preference and spend over the past two years, as well as a growing proportion of consumers who are primarily using debit cards for online purchases,” said Jaclyn Holmes, director of payment insights at Auriemma.

While credit cards were the preferred payment card during the early days of e-commerce, other forms of payment have siphoned off credit card’s share. The survey discovered that half of the respondents paid for online purchases with a debit card, compared with 35% using a credit card. In 2015, 51% of respondents used credit cards and 34% used a debit card for online buys.

In addition, debit cards have risen in popularity for big-ticket purchases, such as appliances, with 31% using debit cards for such buys compared to credit card’s 39%. In 2015, 58% of respondents paid for similar purchases with a credit card, while only 20% used a debit card.

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