Are U.S. Consumers Turning to Cards to Pay for Everyday Purchases?
Some of us love paying with cold, hard cash while others prefer racking up credit card rewards points. No matter which camp you fall in, chances are how you decide to pay largely depends on if you’re getting ice cream, picking up a new big-screen TV, or paying a bill.
When and where do consumers use cash? How often do they reach for a debit or credit card? Check out our quick video recap of findings from the Federal Reserve’s 2019 Diary of Consumer Payment Choice study.
Keeping up with the latest payment trends? Stay tuned for results of the Fed’s 6th annual Diary of Consumer Payment Choice study coming summer 2020.
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The views expressed here do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System.