Credit Card News

Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Other » Usage of credit cards to go down

Usage of credit cards to go down

By
Add to Favorites:
Usage of credit cards to go down

As per a recent report, many more American customers are expected to pay for their shopping with cash and debit cards, while fewer consumers are expected to use their credit cards. According to the server, around 27.6% of the shoppers would pay for the gifts with credit cards. This percentage is the lowest since 2002, the year in which 26.8% shoppers used credit cards for their shopping plans of the holiday season. Approximately 43% of consumers are expected to pay for their shopping expenses using debit cards. This represents a 20% increase from the 34.3% mark in 2005. The number of customers who are going to pay for their shopping expenses with cash has increased slightly from 24.9% last year to 25.7%.


A lot of customers actually believe that using credit cards increases their spending for the holiday season. On average, credit card customers end up spending between 100 to 500 dollars more than originally planned. They also admit that they are not prepared for a surge in their spending. You might need a few tips in case you are intending to use your credit card for your holiday expenses.


The first thing to do would be to have a holiday spending work sheet. There are quite a few articles online which show you how to control increasing bills. You must also realize the simple fact that some of the store credit cards have attractive discounts at sign up, but they come with large interest rates. The average interest rate on store credit cards was found to be 23.83 percent, which is 9 points higher than the rate offered by bank credit cards. It is therefore far more sensible to get yourself a low interest credit card if you think you would be making a payment over a period of few months.


It is also a good idea to utilize the holiday cash back reward offers from credit cards that you already own. This could include bonus points, redemption, gift cards for the bonus points etc. It is not a bad idea to check with the credit card issuers for promotions that will help you make a few savings. This way, you wouldn`t be spending more than what you are expected to save. You can also cash out on some rewards points and cash back cards.

Add to Favorites:

Related News:

New Visa Cards From Cathay Pacific

By Dar Dowling, Posted: February 20, 2017

Travelers have new rewards earning credit cards to choose from with the rollout of Cathay Pacific Visa Signature card. Continue reading
New Travel Rewards From MasterCard

By Dar Dowling, Posted: February 17, 2017

MasterCard is rolling out new travel benefits and rewards for MasterCard Platinum, World and World Elite credit cardholders in the Asia Pacific. Continue reading
Hilton Honors Upgrades Rewards

By Dar Dowling, Posted: February 16, 2017

Do you find yourself wishing for more rewards from Hilton Honors? If so, you are in luck. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Unlimited 1.5x rewards on every purchase, every day. For every $1 you spend, you earn 1.5x Miles.
For Excellent, Good Credit
Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
For Excellent, Good Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit