It seems that credit cards have been a part of our lives for a very long time! It's been so long that it seems that most Americans have forgotten about cash! According to the recent pole, today 90% of Americans prefer to purchase goods and services with their credit cards, rather than with cash or checks. But there is no doubt that Americans have complicated relationships with their cards.
The latest survey studied how American credit card users understand, select and use their cards as well as how they manage their credit score. 1,000 Americans were contacted by phone and were asked about their credit card usage. The survey has shown that most Americans have love-hate relationships with their plastics.
Today credit cards are a big part of the lives of Americans; they have become one of the modern accessories and are absolutely necessary. This pole was held in order to find the contradiction between how credit card users think about their cards and how they use them.
Unfortunately, the statistics is disappointing; an average American family has over $10,000 in credit card debt! Despite this fact, 90% of these people continue to use their credit cards frequently! As you can see Americans really have difficult relationships with plastic cards, they are passionate and conflicted at the same time.
8 out of 10 Americans call their credit cards "debt cards" and claim that plastics can easily cause financial problems and lower their credit score. On the other hand, the respondents admit that credit cards give them buying power as they give them a chance to purchases goods and services they can't really afford. Respondents also admit that credit cards are very comfortable and that is the main reason why they use them.
Some results of the pole were really disappointing! 3 out 0f 4 American credit card users don't read terms and conditions before filling out the credit card application for the card they have chosen.
My friend Dan once made a big mistake. He applied for the good credit card that his neighbor Robin has advised him. He thought that the card was a perfect match for him. But after the end of the introductory period, Dan was simply shocked. The APR was 34%, Dan didn't expect that at all! So he took his time and has chosen good credit card that was really suitable for him!
Some of respondents don't even know that it will take years to pay off their credit card debt if they make only minimum payments, others don't know how to enhance their personal credit rating!
Over 50% of respondents claim that they are not satisfied with their credit cards, but don't feel like searching for the new ones! Only 1 out of 5 makes a research over the Internet to find the card to fit his or her lifestyle and financial status.
It is pretty surprising that 72% know how to use their credit cards correctly, but less than 20% actually use their knowledge!
We all know that you can benefit from your cards, so if you do everything correctly, you will always have great relationships with your cards!
|
