Question of the Day: What Is Preferred Method of Payment For Consumers? Cash, Debit or Credit?

From TD Bank Survey of 1,500 consumers with checking accounts:

consumers_preferred_payment_method

Good conversation starters:

  • What is your preferred method of payment?  Why?
  • Why do you think debit cards and cash are favored over credit cards?
  • From a security perspective, what is difference between credit cards and debit cards?
  • Which product will help you build a credit history?  Credit or debit?

This series of articles on Consumer Affairs website provides pros and cons of credit and debit cards.