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Recession Spurs Rise of the “Cautious Consumer” as Credit Card Usage Hits All-Time Low
SAN FRANCISCO—-According to a new Javelin Strategy & Research report issued today, the pain of the recession has produced a risk-adverse, cash-hoarding “cautious consumer” that is dropping Credit Cards and opting for “pay-now” payment alternatives such as cash, checks, debit, prepaid and gift cards at a higher rate than ever before.
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