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Consumers moving from debit to credit cards, expert claims

Fri, 02 Jan 2009

People are increasingly moving their spending from debit to credit cards, according to one expert.

Donald MacLeod, head of Sainsbury's credit cards, explained that people are doing this as debit cards do not offer as much protection.

Consumers are also keen to take advantage of offers such as cashback that some credit cards come with, he stated.

"So from where we have traditionally seen a steady move away from credit card to debit card spend, we have seen that shift back," Mr MacLeod said.

People will also turn to credit cards as they become more financially stretched, he added.

This is because credit cards can be used as short-term borrowing tools, helping people to manage their money, he added.

A recent study by payments agency Apacs found there were 1.9 billion purchases made using debit and credit cards during the third quarter of 2009, worth a total of £93.7 billion.
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