Visa Says Debit Use Overtakes Credit
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More American consumers are using debit cards to purchase goods than credit cards as they seek ways to keep a closer eye on their spending, according to a survey by Visa U.S.A.
During the first six months of the year, there were 3.04 billion Visa debit card transactions, compared with 2.96 billion credit card transactions, the credit card company said.
Credit card transactions still have a higher combined dollar value, as they tend to be used to purchase bigger-ticket items.
Visa said 60% of those surveyed used check cards so they could carry less cash, and 70% said using a debit card gave them a better sense of how they spend their money.
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