Credit Cards & Consumer Habits

Credit Cards and Consumer Habits How many credit cards do you own? Factors while choosing credit cards 100% Interest rate 28% 80% Points/reward schemes 60% Cashback schemes 26% 40% Brand name 20% Personal recommendation 46% 0% Cashback schemes 59% 45% 32% 24% 9% 7% Are you loyal to any specific card? Reasons for loyalty to card 100% Generally happy YES 80% Using it for years & didn't bother to change 57% 60% 40% Best interest rates 20% Best schemes 43% 0% High credit limit NO 48% 33% 24% 21% 11% What is the highest category of credit card you are using? How many times you use your credit card per month? 100% 80% 1-3 times 60% 4-6 times 48% 1% 40% 6-8 times Platinum Silver 20% 9-11 times 35% 16% Gold 0% Titanium 40% 38% 11% 11% Information used while comparing card Gender 100% Monthly interest rates, Annual fees of the card 80% Annual percantage rate 60% Terms and conditions 41% 59% 40% 20% Interest free period 0% Penalty for late payment 58% 56% 38% 27% 25% Age Household Income 100% $0 - $24,999 80% $25,999 - $49,999 60% 40% $50,000 - $99,999 20% $100,000 - $149,999 <18 18-29 30-44 45-60 >60 0% $150,000 + 0% 14% 31% 33% 22% 13% 15% 34% 14% 24% Location (census region) Education 100% 5% 17% Less than high school degree 80% 5% 8% 19% 13% High school degree 60% Some college Graduate degree 40% 20% Associate or Bachelor degree 7% 17% 9% 0% 1% 4% 38% 31% 26% Pacific New England East North Central South Atlantic West South Central Midddle Atlantic West North Central East South Central Mountain