When Millennials are shopping, more and more prefer to pay with plastic, with debit cards as their main payment of choice. A recent survey by CreditCards.com found that debit cards are preferred 3-to-1 over credit cards among consumers 18-29-years-old—a finding that makes sense considering this group’s fear of debt and cautious financial outlook. Cash is gradually being ignored in favor of debit as well. Among the same group, 51% prefer plastic over cash for purchases under $5, compared with 82% of consumers over 65 who use cash for under $5 purchases. (CNBC)
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