As we wrote before, a credit card is a real must when traveling. But we cannot live without it, not only on the spot, but also in advance. This is the conclusion of a study conducted with 1,000 Belgians older than 18 years. For example, 2 out of 3 Belgians use their credit card always or usually to prepare for a holiday. Is cash gradually being replaced by bank and credit cards?
It is probably no surprise that we, Belgians, like to prepare our holidays to perfection. For example, we record the majority of our travel plans three months or more in advance. Good preparation naturally also includes booking transport and accommodation. The ease of use of the credit card is clearly appreciated by the Belgian. The credit card is also the most popular payment method once on site.
The question is whether we will continue to put cash in our portfolio for a long time. Dirk Verhaeghe, Head of Retail Products at Tituba, is already seeing a strong trend. “The popularity of cash payments has been declining for years. Paying with the card is generally considered easier, simpler and more secure. Younger generations are more likely to use the bank card, while older generations rely more on the credit card. ”
When booking your flight you have the choice to pay with your bank or credit card. If the Belgian takes the plane to his holiday destination, 57% prefer to book his destination with his credit card. However, this is not yet fully established in the younger generation. For example, 18 to 34 year olds more often choose the bank card to pay. The research also shows that the bank card becomes less and less popular as the age rises.
If you want to book your stay, then – especially in hotels – you will often be asked for your credit card. More than 1 in 2 Belgians (54.6%) is not a problem because they even choose to use their credit card to book a stay. More than 3 in 10 (35.8%) use the bank card for this and almost 10% prefer a cash payment.
And not only during the preparation, but also during your holiday itself, a credit card proves its usefulness. It remains the favorite payment method for 4 out of 10 Belgians, mainly among the older generations. For example, 46 percent of people aged 55 and above prefer to pay with a credit card abroad, while for 35 to 55 year olds this drops to 35%. For the 18 to 34 year olds, only 32% prefer to pay with a credit card. Only in this latter age category are cash (34%) and bank card (34%) more popular than the credit card.