Though the majority of Americans plan to avoid using credit cards this holiday season, the use of credit cards has been increasing at USC as cash payments have become less prevalent.
According to a survey from media company Triton Digital released Monday, 52 percent of Americans plan to use cash pay for gifts during the holidays in an effort to avoid credit card debt.
USCard, however, has noticed a decline in the amount of cash deposited to discretionary accounts for the last three years at a rate of about 21 percent per year, according to Bernie Moreno, interim director for USCard services.
“Trending for deposit is going away from cash,” Moreno said. “This is even true for the value transfer station [in the basement of Leavey Library where students can transfer funds]. The trend has been pushing away from cash for sometime.”
Moreno said he feels the convenience factor of using a credit card rather than depositing cash is important for college students.
“Using cell phones, using computers, there really is no need to visit our customer service center unless you feel the need to give cash or write a check,” Moreno said. “Students are really embracing technology.”
Some students said they prefer credit cards because they are easier to carry.
“I always use credit cards because it’s more convenient and I get a lot of change, which usually accumulates in my room,” said Chaitanya Murthy, a senior majoring in chemical engineering.
Kadra Alvaro, a senior majoring in computer engineering and computer science, said there are some benefits to using cash.
“Sometimes I feel like it’s easier to regulate spending if you have cash because you can see it leaving more than if you are swiping a card,” Alvaro said.
Still, many students said cash has become a hassle.
“It’s easier,” said Darren Chiu, a freshman majoring in biochemistry. “You don’t have to hold that much cash and there’s no change involved.”