Holiday shoppers are turning away from using credit cards as their main payment option this season, according to an online survey Harris Interactive conducted for prepaid provider Green Dot Corp. Harris polled 2,288 U.S. adults 18 and older from Nov. 10 to 12.
According to the survey, 69% of respondents said concerns about adding to their debt load are prompting them to plan to use available funds for holiday purchases, including debit cards, cash, checks, gift cards and other prepaid cards. About a quarter of consumers who said they used credit cards for holiday purchases last year are less likely to use credit cards this year, according to the results. One in ten respondents said they would not use credit cards at all this holiday season
Among those consumers surveyed who are in the prime family years of 35-44 and 45-54, 55% and 58%, respectively, said they were concerned about accumulating holiday shopping debt. Some 52% of women surveyed said they are at least somewhat concerned about accruing holiday-related debt, compared with 45% of men who said so. In the 12 months ending Sept. 30, the company had issued 6.1 million new Visa and MasterCard prepaid accounts for consumers who loaded $9.5 billion in deposits.
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