US consumers expected to use credit cards more for holiday shopping, survey says

By Tatiana Bautzer

NEW YORK (Reuters) -U.S. consumers expect to rely more heavily on credit cards for shopping during the Thanksgiving holiday season, according to a survey by credit bureau TransUnion.

According to TransUnion’s U.S. Consumer Pulse study that surveyed 3,000 people in October, 42% of consumers intend to use credit cards to pay for shopping between Thanksgiving and Cyber Monday, up from 38% a year ago.

The majority of consumers, around 55%, are optimistic about their household finances over the next 12 months, although the percentage is down from 58% last year.

Inflation remains by far the top financial worry, with 86% of consumers concerned about the issue. A potential recession and high housing prices are also among consumers’ concerns.

“The higher-income consumers con