Highlights From a Credit Card Survery

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Mogul of Pineapples
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Highlights From a Credit Card Survery

Postby Mogul of Pineapples » Thu Oct 16, 2008 10:39 pm

Here are a few survey highlights from a 42 question survey done by Ketchum Global Research Network to 1,002 Americans.

  • 22% have $5,000 to $20,000 in credit card debt
  • 3% have more than $40,000 in credit card debt.
  • 14% of individuals are "sometimes" unable to pay their credit card and/or loan(s) each month
  • 8% only can make the minimum payment

I don't think it's as bad as it sounds. Credit cards are used as financial tool like a car loan. Probably more than 22% of the population has more than $5,000 to $20,000 on a car loan too. I don't think this is cause for alarm in itself.

The 14% number was worrying but that wasn't only for credit cards but all debts. That is the scary part.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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Cucumber
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Postby Cucumber » Fri Oct 17, 2008 12:58 am

The numbers I heard were even worse when it came to Americans and their mortgages. :eek:
OBAMA
Stop talking crap about him!

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Mogul of Pineapples
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Postby Mogul of Pineapples » Sat Oct 18, 2008 4:37 pm

I heard the same thing about mortgages. I don't understand why renters are being completely ignored. In many areas their rent has been raised excessively and they are struggling just as much, if not more than, homeowners. At least home owners have equity in their houses while renters have no equity so all their money they are paying is going down the drain.

If we are going to bail out the homeowners I would like to see some protection in place for renters too. I don't agree with bailouts but it's only fair we help out everyone if we are going to do it.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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