Consumers shun credit cards in favour of debit

By Jessica Stanic · 23 April 2009 · News

Credit cards lose favour in the financial crisis

As the financial crisis deepens, consumers are making a surprising shift in their spending habits. Will debit cards become the new norm?

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Summary

It seems consumers are turning away from credit cards in the financial crisis and using debit cards to pay for purchases to avoid going into debt, MasterCard Australia says. MasterCard Australia executive vice-president, Australasia, Eddie Grobler said they have noticed a change in credit behaviour, with many users now turning to debit cards as the […]