Nearly two-thirds (63%) of homeowners had used a credit card for a significant purchase, according to research from Pepper Money.
Credit cards stayed popular for short-term, unsecured borrowing, but only 36% of card holders said they would use them again for a big purchase.
A third (33%) of homeowners had used a mortgage for a major spend and 14% turned to secured loans to borrow larger sums, covering things like home renovations or consolidating debts.
Looking ahead, a quarter (25%) said they would consider a personal loan for future big purchases, 18% would use a mortgage and 17% would choose a secured loan.
Ryan McGrath (pictured), director of second charge mortgages at Pepper Money, said: “The data offers a clear view of homeowners who are thinking about big-ticket spending both now and in the future.
“While credit cards and savings are still the most commonly used options, there’s a noticeable shift happening.
“The fact that 63% have used a credit card for a major purchase, but only 36% say they’d do so again, suggests people are starting to rethink the cost and consequences of short-term, unsecured, borrowing.”
McGrath added: “At the same time, we’re seeing a steady rise in longer-term forms of credit such as personal loans, mortgages and secured loans.
“These options, as well as the ability to access them quickly, offer a more predictable and efficient way to borrow.
“Secured loans, in particular, often get overlooked, but they can play a valuable role for those with equity built up in their home and who need access to larger sums to fund home improvements or to consolidate debt under a single regularly payment.”
He said: “While not right for every homeowner, all options should be considered with a broker to ensure that consumers understand all of their options and can chose the ones that best fits their long-term financial needs.”
