A new nationwide survey by CardRates.com found 7 in 10 Americans believe the U.S. is becoming a ‘cashless’ society, yet 77% don’t think the country should go completely cashless.
As Americans increasingly rely on plastic for ease of use, it’s not without risk. The survey revealed 71% find it easier to overspend using a credit card and more than half (54%) say credit cards feel more like “free money.”
- 2 in 5 Americans admit to not carrying cash, 1 in 10 say it’s because they think it’s dirty
- 69% prefer to pay using a credit card
- 23% say they wouldn’t be able to make ends meet without a credit card
- 73% of Baby Boomers, 66% of Gen Z, 57% of Millennials, and 54% of Gen Z say they carry cash with them
Younger adults may even be moving past credit cards, the survey revealed 52% of Gen Z prefers using their phones for purchases over swiping plastic, and 32% of Gen Z and Millennials want to ditch their wallets and keep everything (ID, cards) on their phones.
Read the full report: https://www.cardrates.com/news/americans-believe-us-is-becoming-cashless-society-study/
