Credit card most popular way to buy
Brits are increasingly using their credit cards to make purchases for everyday items, says a new report.
A new survey has revealed that routine purchases now amount for half of all credit card uses, with Morgan Stanley suggesting this will increase over the next few months, already noting a ten per cent increase in frequency of use.
Credit cards were traditionally used for major purchases such as holidays and luxury items, with payments spread across a large time period.
Now, however, the average spend on credit card is now £65, compared to an average debit card spend of £45, and Morgan Stanley says that consumers the use two payment methods as one.
Over a third of consumers buy groceries on their credit cards, and just under half of respondents said that they used them to buy petrol.
Women were found most likely to flash their plastic for mundane items, while men opted to use their credit cards for more luxurious purchases such as socialising and home entertainment systems.
Patrick Muir, marketing director of Morgan Stanley Consumer Banking, said that the country was witnessing a breed of 'increasingly savvy shoppers' who took advantage of finance deals that offer reward schemes such as cashback and 55 day interest-free periods. | 
