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Credit cards could be the solution to debt management?

Credit cards could be the solution to debt management?

- Friday, 16 April 2010

Payments on credit and debit cards are overtaking those made with cash as they are an easier and safer option and can help people make their money go further, it has been claimed.

According to the Payments Council's Way We Pay 2010 report, revealed on April 14th, debit cards are now a more popular way to pay. Over the last decade cash transactions have decreased from 75 per cent to 59 percent.

These findings are to be expected, according to Egg Money's Harald Schneider, who said: "It's not surprising that card use is increasing in popularity each year. Cards offer an easy and safe payment option compared to cash, which is rapidly declining in popularity."

Mr Schneider added that regular expenditure on cards can help consumers make their money go further as companies award cash back or offer money off purchases so those who use their cards frequently will "see the greatest rewards."

However those who increasingly use cards over coins could find themselves needing debt help if they overspend.ADNFCR-2300-ID-19724884-ADNFCR
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