Halifax: Credit cards more valuable to most than mobiles or drivers licence

27 June 2007
More people are afraid of losing their credit card than they are of losing their mobile phone or driver’s licence, new research from Halifax Credit Cards has shown.

Halifax asked 935 people aged 18 and older to rank their belongings in order of which they would least like to lose, such as mobile phones, credit cards, keys and drivers licences, and found that most people are reliant on their credit cards as a frequent method of payment and are therefore more treasured than other valuables like mobiles.

Almost half of those asked stated convenience as the primary reason for the importance placed on credit cards. Fifty-four per cent of credit card holders said that they could survive without cash for a week, relying on cards alone, and one in eight said that they could survive for a month or more.

Ken Stannard, Head of Halifax Card Services, said that “Our research shows that convenience and security are important factors for credit card users. The study showed that credit cards are one of our most prized possessions.”

The survey also found that the possession people would least like to lose is their keys, with 40% of people putting them above all else, followed by passports at 22%, credit cards at 16%, mobile phones at 8% and just 7% said their driver’s licence was the most important.

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