Tracking Americans’ Credit Habits
Holiday credit card spending was off this past year, according to the results from two surveys commissioned by TransUnion. Designed to gauge distinct aspects of consumers’ current credit habits, the studies found that 35 percent of consumers actually report purchasing less on credit this holiday season than last year. Four-in-10 (43 percent) say they have the same amount of credit card debt this year as last, with 11 percent reporting they have more debt and 29 percent reporting they have less.
The survey also revealed:
- Fully six-in-10 (63 percent) do not know their credit score.
- Sixty-five percent say they have never checked their credit reports for free.
- Forty-seven percent never check their credit reports, and 16 percent check their credit reports less often than once a year.
Source: paymentsnews.com
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