Plastic ‘preferred’ over cash
Consumers prefer to carry plastic cards around with them rather than cash, new figures have suggested.
Research from Fool.co.uk has revealed that most consumers (37 per cent) use debit cards for everyday transactions, while plastic loans are the next popular choice as 32 per cent of those questioned used credit cards for day-to-day purchases.
Only 29 per cent of consumers use cash for everyday spending, the data showed.
Head of personal finance at the website David Kuo suggested that in the current climate consumers should be careful with their money.
"Plastic can be fantastic, but relying on money we can't see is a reflection of how easy it has been to rely on credit in recent years," he said.
Mr Kuo urged consumers to "take care" with their finances as credit becomes harder to secure.
National money education charity Credit Action recently advised Britons to shop around for the best credit card deals.
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