Eight in 10 adults say they use or own a credit card, with cardholders using nearly 3 cards on average.
With new perks and sign-up deals coming out every day, there are a lot of factors to consider when selecting a new card. This also indicates there are near limitless options to change cards if you’re feeling less than satisfied, which may be the case for many cardholders as around 6 in 10 say their primary card is not completely delivering on its promises.
Harris Poll: The Credit Lowdown survey says in this highly penetrated and competitive industry, a company cannot afford to under-deliver. Consumers are inundated with offers from competitors who are eager to take a precious slot in their wallets. Issuers need to make promises they can keep, and stay ahead of consumer sentiment to stem off attrition and maximize loyalty.
The survey is part of the annual celebration of National Financial Literacy Month, which serves to raise awareness of financial education and the consequences of mismanaging personal funds, there seems no better time than now to discuss how Americans use and view their credit cards.