Tuesday, November 17, 2009

Cash is king for the holidays

Holiday shoppers are going green this year...paying for gifts with greenbacks, that is.

One in four consumers plan to pay with cash this holiday season, according to a new survey by the National Retail Federation. That's up 9.1% from a year ago.

That's not too surprising considering both credit card companies and consumers have reined in usage during the Great Recession.

Another 42.5% of holiday shoppers plan to use primarily debit or check cards, a 2.5% increase from last year, the survey found.

Credit card usage, meanwhile, is expected to fall by 10.1% to 28.3%.