Consumer Payment Card News

05-Debt or Diet?

According to a national survey 36% of Americans polled are focused on weight loss for 2005 as opposed to 31% who are concerned with eliminating outstanding debt. This is a significant change from the 2003 poll in which 37% of those polled were more concerned about their debt, while only 29% were concentrating on losing weight. The Roper/Bankrate survey also found that the average amount of debt Americans polled need to pay off is $11,288, which is slightly less than the 2004 survey result of $11,895. Last year, the Cambridge Consumer Credit Index also found that more Americans would rather get fiscally fit then physically fit this year. The CCCI study found 28% of consumers want to get out of debt while 27% say losing weight and exercising was their top goal of 2004.

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