Do you use your credit card for everything that you buy, even small items? These days, it's not unusual to make small purchases with plastic. A recent survey by CreditCards.com found that 17% of respondents typically charge purchases of $5 or less – an increase of 6 percentage points over last year's survey.
To a certain extent, this is a generational preference. Younger respondents tend to see plastic as the default choice. The CreditCards.com survey found that 53% of respondents ages 18-36 prefer a credit or debit card to pay for inexpensive items, while 70% of Baby Boomers and older seniors primarily use cash for their purchases of $5 or less.
As credit payment methods become even easier, more convenient, and universally accepted, the percentage of people using credit cards to pay for any purchase is likely to continue to increase – but is this a positive trend? Consider the pros and cons.
The most obvious downside of putting all of your small purcha...
from MoneyTips https://www.moneytips.com/more-credit-cards-being-used-for-smaller-purchases/831
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