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Credit Card Holder Types: Which Are You?

CREDIT CARD HOLDER TYPES CYKDHOT DEK HVHE WHICH ARE YOU? lns8 753H Eoeus srao PESI 3MAM 83CJOHERA) BSUK A CREDIT CARD IS A PRACTICAL TOOL THAT ASSISTS WITH OCCASIONAL LIVING EXPENSES, BUT SHOULD ONLY BE PLACED IN THE HANDS OF RESPONSIBLE CONSUMERS WHO UNDERSTAND THEIR LONG-TERM RISKS. IN THE U.S. ALONE 30 million in Canada 176.8 MILLION CREDIT CARD HOLDERS in US CreditBank 1.5 BILLION 76.3 Millon in Canada 1234 5678 9012 3455 CREDIT CARDS in US CARHOLDER NAME There are a number of perks to owning a credit card, rather than just establishing a line of credit. If you maintain a good credit standing, you're free to choose from the many credit card options that can be tailor-suited to your lifestyle and budget. Many cards offer rewards, discounts and even mileage points to both travel and thrift-happy consumers, eager to cash in on these accommodating perks. More than 91% of adult Canadians 91% have at least one credit card LET'S TAKE A LOOK AT THE MOST COMMON TYPES OF CREDIT CARD HOLDERS, BASED ON SET CREDIT CARD PREFERENCES. The Beginner 76% of undergraduate students own a credit card. 76% 48% of undergraduate 48% students have 4 or MORE open credit cards. This particular credit card holder has the privilege of owning a credit card for the first time. College students usually fall under the "beginner" category, and are often given credit cards that come with a low credit limit. As they may have little to no financial knowledge at this point, these "beginners" are often prone to spending more than they can pay off. The Shopaholic 18.1% say they often purchase items that they don't need or didn't plan to buy when they set out to shop. 31.7% 31.7% of shopping fanatics admit they "almost always" or “frequently"purchase things just because they're on sale. For the typical shopaholic, credit cards often serve as the "get-out-of-jail-free" card, until the the card typically maxes out. It's possible that the Shopaholic doesn't care about timely bill payments, or high interest rates, as the glory is often fixated on that day's purchase. Bill Shopaholics may utilize their credit cards for various purchases, ranging from clothes,digital technology, and entertainment resources. DEPARTMENT STORE Ordinary credit cards should work for the Shopaholic, but there are also department store cards that may provide more shopping reward points and perks for these "expert" buyers. The Seasoned Traveler "American companies spend roughly $225 billion sending their employees on business trips." The seasoned traveler is an individual whose personal and/or business affairs include frequent traveling. For these types of credit card users, they will benefit more from a travel-oriented rewards program credit card: one that offer rewards for car rentals, hotel bookings, flights and frequent flyer miles. Business travelers may also prefer the advantages of a business credit card that offers more rewards and perks, and comes with lower interest rates. The Regular Payer "35% of your credit score is based on whether your credit card payments are made on time. Your credit score benefits the most if you consistently make your credit card payments (and all your other payments) on time." 689 = AVERAGE FICO SCORE This responsible card owner has a wide variety of credit cards to choose from, as he or she is responsible for on-time payments. These credit card owners greatly benefit from credit cards that offer cash back rewards because they're sure to receive them regularly. Because the Regular Payer is consistent with his payments, he will| most likely receive offers for additional credit limit. The Regular Debtor $81.6 Billion %24 TOTAL CREDIT CARD DEBT IN Canada The "regular debtor"is the complete opposite of the Regular Payer, and is often disguised as the "Shopaholic" - an individual who does nothing to alleviate their financial debt while perpetuating shopping expeditions. A regular debtor probably has a negative credit rating from all the debts O that has been accumulated on credit cards. He or she will have no choice but to use secured credit cards or prepaid cards, to improve credit ratings and successfully relieve pending debts. Weigh your financial options. BROUGHT TO YOU BY sources: ComparaSave SALE O

Credit Card Holder Types: Which Are You?

shared by w3webhelp on Mar 30
What are your credit card needs? Are you looking for a small line of credit to get your feet wet with experience, or are looking for something with more benefits to fit your lifestyle?Whether you’re...


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