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Even if you find statistics boring - this is pretty interesting
Credit card statistics, industry facts, debt statistics
Eye opening.. thanks for the share
"Cardholders 18 and older surveyed in February 2012 who paid the minimum balance each month and believed they would be able to pay off their current balance by making minimum payments: 60 percent".
I think this was one of the most disturbing facts from that article.
@Chris123nTx wrote:
"Cardholders 18 and older surveyed in February 2012 who paid the minimum balance each month and believed they would be able to pay off their current balance by making minimum payments: 60 percent".
I think this was one of the most disturbing facts from that article.
Also, "Female respondents exhibited more costly credit card behavior than male respondents. For example, women were five percentage points more likely to carry a balance, four points more likely to pay the minimum payment on their cards and six points more likely to be charged a late fee."
Then again, "while improving financial literacy will benefit both men and women, women’s credit card behavior will improve by 60 percent more than men’s credit card behavior."
Oh they updated it.
On the order of $50B in swipe fees per year in the US. Wonder how hard it would be to start another transaction processor and try to undercut things at 1% or even 0.5% fees instead of the usual 1.5-2%+