Credit card use gaining momentum

December 5, 2011 3:35:03 PM PST
Three years ago, more consumers were using debit cards instead of credit cards. Now the reverse is true.

Payments made with credit cards on the day after thanksgiving increased more than 7 percent. First data processes card transactions for millions of businesses. It says overall credit card purchases were up 9 percent in the second quarter of this year and more than 10.5 percent in the third quarter.

Credit card companies are also offering cards with more perks and rewards.