Americans Prefer Debit Cards to Credit Cards. Here's Why That's a Mistake

Americans Prefer Debit Cards to Credit Cards. Here's Why That's a Mistake

Americans certainly aren't strangers to credit cards. The average household owes $5,700 in credit card debt, but for some borrowers, that figure is significantly higher.

Despite our collective reliance on credit cards, it seems that consumers tend to favor debit cards on the whole. In a new NerdWallet study, 44% of Americans say they mostly use debit cards for daily purchases like food and fuel. By contrast, only 34% primarily pay by credit card.

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Source: Fool.com