Consumer Payment Card News

Card Habits

There has been a 23% increase over the past five years in the number of credit cardholders who use cards that accumulate points for merchandise and/or airline tickets. The new study also shows that debit card usage has decreased from 55% in 2003 to 44% in 2007. The research by Maryland-based Vertis found that the use of general-purpose credit cards containing no benefits has decreased from 38% to 31% since 2003.
Other findings: credit cards issuing “cash back” incentives were among the most commonly used in 2007 by 30% of all credit card holders; store or gas credit cards are used by 25% of all credit card holders; only 11% use charge cards that require a balance paid in full each month; and specially endorsed cards from a university or other organization are only appealing to a mere 7% of all credit card holders. Vertis also noted that 16% of total adults use three or more credit cards
each month, compared to 10% of total adults surveyed in 2003.

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