Do Women Pay More When Using Credit Cards?

De Women PAY MORE WHEN USING CREDIT CARDS? Are low financial literacy rates hurting women more than men? A recent study by the FINRA Investor Education Foundation says yes. Turns out, women who understand less about their finances are more likely to engage in risky credit card behaviors than their male counterparts. Take a closer look. BAD Girls: Where Women Flub Their Credit Card Management Women are MORE LIKELY THAN MEN TO (Relative Difference) M Carry a F Balance 55% by 9% 60% 38% 42% M Pay the Minimum by |1% 23% M Pay a Late Fee by 26% 29% Pay an "Over-the- F Limit" Fee 15% by 7% 16% 33% 38% Do Multiple M Problematic Behaviors x2+ by 15% Women are LESS LIKELY THAN MEN TO... (Relative Difference) 45% 39% Pay the Balance in Full M by 13% 37% | 31% Comparison Shop for Cards by ]6% A BR - GHT SPOT Women are 20% less likely TO TAK E A CASH ADV ANCE THAN M EN. So How Do You FIX IT? COMPARE MEN AND WOMEN WITH HIGH FINANCIAL LITERACY, AND the gender gap FIZZLES. PLUS! Raise the financial literacy and both sexes win. rate, WOMEN WIN MORE. but Probability of 2 or more costly behaviors: 29% 32% Interesting Fact: Women's credit card behavior will improve by 60% more than men's if we improve financial literacy. 24% 24% MEN WOMEN MEN WOMEN LOW HIGH FINANCIAL LITERACY FINANCIAL LITERACY FOR MORE TIPS AND TRICKS FOR MANAGING YOUR DEBT AND PERSONAL FINANCES, VISIT CREDITSESAME.COM credit sesame SOURCES: FINRA INVESTOR EDUCATION