*This was originally posted in 2017. Numbers have been updated to reflect 2018 stats.
With Christmas and Hanukkah just around the corner, we are probably all reaching into our wallet a little more often. The National Retail Federation “expects holiday retail sales in November and December — excluding automobiles, gasoline and restaurants — to increase between 4.3 and 4.8 percent over 2017 for a total of $717.45 billion to $720.89 billion.”
Many of our clients and friends have expressed concerns about keeping their identity and credit safe against fraud while shopping. In the age of endless data breaches and retail hacks, we consider it more important than ever that individuals are well informed.
This article will focus on using credit cards vs. debit cards on various retail transactions. The main take-away: when you have a choice, always use your credit card.