Credit cards continue to play a central role in consumer payments, with more U.S. households relying on them for everyday purchases and online transactions. As e-commerce expands, consumers increasingly prefer credit cards over other payment methods for shopping, travel bookings, digital content, and online bill payments.
Mercator Advisory Group’s research explores how changing consumer behavior and the continued growth of digital commerce are driving increased credit card usage. The findings highlight the evolving role of credit cards in today’s payments landscape and what these trends mean for issuers, merchants, and consumers.
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Data for this episode of Truth and Data provided by Mercator Advisory Group’s report – Consumers and Credit: Rising Usage.
About this report
The most recent Insight Summary Report from Mercator Advisory Group’s biannual CustomerMonitor Survey Series, titled U.S. Consumers and Credit: Rising Usage, reveals that 62% of U.S. households use credit cards in 2018, up from 60% of U.S. households in 2017. Rising use of online shopping appears to make credit cards more attractive, as the survey also finds that U.S. consumers are now more likely to prefer using credit cards rather than debit cards or any other payment type at online retailers, for online travel, digital content, and even online bill payments than since we started tracking usage preference in 2015.
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