NEW YORK—Not surprisingly, rising interest rates and inflation are expected to impact holiday shopping habits, according to a new report.
Credit cards are expected to be the most popular payment method for holiday shopping, according to a survey by consumer financial services company Bankrate.
More than half (53%) of holiday shoppers say they expect to pay for at least some of their purchases with a credit card, including 19% who say they will take on credit card debt for their holiday purchases, the Bankrate survey found.
Debit cards are a close second, with 52% of shoppers planning to use a debit card.
Only 10% of holiday shoppers plan to use a buy-now, pay-later service, and 5% to plan to pay with checks, according to the survey results.
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