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Credit card statistics, industry facts, debt statistics

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pipeguy
Senior Contributor

Credit card statistics, industry facts, debt statistics

Even if you find statistics boring - this is pretty interesting

 

Credit card statistics, industry facts, debt statistics

 

http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276...

Message 1 of 5
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MT936
Established Contributor

Re: Credit card statistics, industry facts, debt statistics

Eye opening.. thanks for the share

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Message 2 of 5
Chris123nTx
Established Contributor

Re: Credit card statistics, industry facts, debt statistics

"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.

Message 3 of 5
vanillabean
Valued Contributor

Re: Credit card statistics, industry facts, debt statistics


@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."

Message 4 of 5
Revelate
Moderator Emeritus

Re: Credit card statistics, industry facts, debt statistics

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%+

 




        
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