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Americans are using debit cards more than credit cards in this tough economy, suggest data from a recent Mintel Comperemedia survey. Of 1,500 adults Mintel surveyed online in March, 83% of respondents said they changed their spending habits because of the recession. The survey found that 43% were using debit cards more than credit cards, while 22% were relying on both card types as they reduced spending. Consumers using debit more than credit is a trend that should continue, says Susan Menke, Mintel financial services analyst. "Debit has been overtaking credit for a number of years now, and there was some conjecture that it would level off," she says. "But because of the recession, it's become a whole new ball game." The shifts in card use jibes with other Mintel data, such as the reduction in credit card mail offers, she says. Mintel reported earlier this year a 49% drop in mail volume for card offers during this year's first quarter compared with the previous quarter, while debit card mail offers nearly doubled during that time. Credit card acquisition mail offers dropped to 458.2 million in the first quarter of this year from 891.3 million in the fourth quarter of 2008. Debit card acquisition mail offers jumped to 5.1 million in the first quarter from 2.6 million in the fourth quarter of 2008. Meanwhile, checking account acquisition mail offers, which frequently market a debit card as a feature of the product, increased to 226 million in the first quarter, up 29% from 175.2 million in the fourth quarter of 2008.
