Consumer Payment Card News

The Unbanked

A new study reveals that 22% of the 10.2 million Americans that do not have a bank account have used a credit card in the past three months. The research showed that VISA is the most widely used card among the unbanked and that store credit cards were more popular than Discover or American Express. NY-based Scarborough Research says its study also showed that 46% of these consumers are likely to be ages 18-24, 52% are and more than twice as likely to have an annual household income of $35,000 or less. Additionally, unbanked consumers are also more than twice as likely to be either black or Hispanic. Surveying more than 210,000 adults annually, Scarborough is a joint venture between Arbitron and VNU Media Measurement & Information.

table{margin-left: auto; margin-right: auto;}.
|_. VISA | 13% |
|_. MasterCard | 9% |
|_. Store | 5% |
|_. Discover | 3% |
|_. Gas | 3% |
|_. American Exp| 2% |
|_2. Source: Scarborough Research |

Leave A Reply