The past few years have seen a decrease in the use of
credit cards among UK consumers, research has found.
In real terms, the
Payments Council's the Way We Pay 2010 report shows that, from 2005 onwards, their usage has decreased.
Debit cards may instead be proving to be an increasingly popular option for the country's consumers, the organisation suggests.
Meanwhile, the council's report has also highlighted some of the recent trends surrounding cheque use in the UK.
While some people are still using such payments as part of their money management, the body's report shows that cheques currently account for only 0.8 per cent of retail transactions.
The UK Cards Association last month revealed that the country saw a 28 per cent drop in overall card fraud between 2008 and last year.
Chip and PIN may be one thing that is helping those looking to get credit and debit cards, the association suggested.
Posted by Tom Burroughs.
