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Credit cards: how do we use them?

Guest post by: Alex Khaikin

Article Overview: A recent survey conducted by MaCorr Research reveals that 50% of credit cards users in North America carry a monthly outstanding balance of close to $1,700 on average.

Credit cards: how do we use them?

Did you know that 1 of 2 credit card users carry an outstanding balance on his/her credit card every month? A recent survey conducted by MaCorr Research reveals that 50% of credit cards users in North America carry a monthly outstanding balance of close to $1,700 on average.

An average North American credit card user has 3 credit cards, but uses only 2.

36% of his/her total household spending is paid by credit cards. As oppose to debit cards, cash or checks, credit cards are a preferred payment type for travel and expensive purchases.

The favorable characteristics of credit cards are convenience and cash rewards they provide. Only 25% of the respondents use credit cards to postpone payments or get short term loans. 9 out of 10 credit card users agree that it is their responsibility not to borrow beyond the means.

When choosing a credit card, security and the absence of annual fees seem to be the deciding factors.

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Article Tags: credit cards, market research, market research survey, online survey, survey



Related Forum Posts
Re: Teen Investors - There was another thread about people learning how to manage money and not to get so far over their head in debt. With the vast number of people we see who are in so much debt and really can't manage their money - who should or could help teens learn to become more fiscally responsible? Credit cards are almost an automatic fix for millions of people - they want something and there's no money. So, they use credit cards. Its actually shocking how many people don't understand that paying only the minimum payment will cost them a fortune. No matter how cheap you buy things, if you buy it on credit and take time to pay - it isn't a deal. It would be great to help teens (and MANY adults) learn to handle their money better and then they would be able to invest if they want. Chris
Re: Gift Cards, Use 'em or Lose 'em - This is a topic I was just discussing to someone the other day. Yes, stores are pushing the gift cards because if you don't use them or forget about them, that's big profit for them. Millions are made every year for expired or never used gift cards. I know that if you use a Walmart gift card, but don't spend all of it, and then wait months to use it again, the balance will be less if not zero. This brings me to a story I just heard last night on the news. A Walmart employee was registering gift cards for people, and instead of putting the amount on the cards, she was pocketing the money for herself and then using it to buy her own gift cards. Make sure to always keep your receipts and check to make sure the amount is actually on the card. Alan
Do you do color business Card??? - Do you do color business cards? How does it work, do I upload a PDF of my business card then your company prints them out and mails them to me? The best business cards that I've ever got was when our Japanese graphic artist designed the front logo of the cards and we got them printed out at Staples.
Advertising is the Key to success! - Advertising is the most important factor for market promotion which drives targeted customers to increase the sales or any sort of increase for the specific job and helps to preserve the best stance among their competitors. Here I would care to share my ideas about advertising the job cards, we know that every businessman should get their private or formal job cards; not simply large companies, still a tiny store or any sort of service supplier should get it. We know easily that most of the job cards should get all fundamental data about job or service, with better pattern, character publish, your logo, link data. But without advertising or easily known by the folk about you and your job, your job cards are not helpful, still if you have better pattern cards. There are some ways to publicize your job cards, like giving your cards to persons you play,advertising in your local magazines, newspapers. I hope this will be useful for the readers to improve their business. I you feel this as useful then reply me I will give you some more tips to improve your business.
Other scams - I've also been scammed by collectible stores in the past where the owners would open the foil packs of sports cards to get their hands on the more valuable/rare cards for re-sale (I mean how else do those sort of stores showcase or carry all of the best cards?). It's actually quite easy to open a foil pack of cards without tearing the packaging and resealing it with a hair permer (I've tried it myself). As proof my theory, I was never able to obtain a rare card when buying individual packs from a collectible store, but when I tried buying from the post office years ago... 3 of the 6 packs contained a card worth $10-25.


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