Consumers Lose Track of $2,500 a Year
Visa said, unsurprisingly, that debit cards are a good tool to track spending.
Since April 2009, spending on Visa-issued debit cards surpassed spending on its credit cards. Debit cards currently make up about 70% of Visa's U.S. transactions, and the company has issued more than 352 million cards. Rival MasterCard (MA) has more than 211 million debit cards in circulation.
As part of the Visa survey, Americans, whose payment method of choice is a debit card, claimed that they would rather give up coffee, MP3 player, mobile phone, email, visiting social network sites -- and even cash -- for one week than they would their debit card.
-- Reported by Joe Mont in Boston.
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