Most consumers will avoid credit card debt this holiday season

Only 27.6 percent of consumers said they will use their credit card accounts as their primary method of payment this holiday season, according to a new poll from the National Retail Federation. Instead, 43 percent say they will lean on debit cards, and 25.7 percent reported cash will be their preferred way to buy gifts.

"Many families may choose to leave credit cards at home as they shop this year, making sure to only purchase what's on their list and within their budget," said NRF president and CEO Matthew Shay.

The number of consumers who will take on credit card debt was the lowest observed in the poll since 2002, the report said. Meanwhile, the rates of debit card and cash use increased.

Many lenders are trying to entice consumers to use their cards this season, upping rewards for every dollar of credit card debt they take on.