Consumers Will Rely Less on Their Credit Cards This Holiday Season

A new survey explains why less people will be using their credit cards for purchases


San Francisco, CA -- (SBWIRE) -- 11/18/2014 -- With the holiday season in full swing, (BCRC) wanted to get a better understanding how of consumers will be spending their money. Specifically, the BCRC team hoped to better understand consumer spending in regards to their credit cards.

“Expenses can run high during the holiday season,” Kate Ward, PR Manager said. “We wanted to better grasp how or if consumers will use their credit cards.”

The survey, created by the BCRC team, asked “How do you plan on using your credit card this holiday season?

The following presents the answers with their relative percentages:

A.I will not use it at all- 47.5 percent
B.I will use it on some purchases-27.4 percent
C.I will use it on all purchases-18.9 percent
D.I will use it only on big purchases-6.2 percent

The majority answer, with 47.5 percent, said they would not use their credit card at all during the holiday season. The next closest answer consumers chose, at 27.4 percent, said they would use their credit cards on some purchases.

The BCRC team was surprised by the majority answer. The holiday season is notorious for consumer spending. There are major expenses associated with this time of year including travel, Black Friday, Cyber Monday and multiple holidays which fall into this period.

“This data was quite a surprise to our team.” Ward said. “We were expecting that the majority of the consumers would use their credit cards on at least some purchases, instead of not at all.”

Some consumers may have their finances in order and don’t feel the need to use credit cards as much. Or they may be in a financial bind and only want to purchase items they can pay off immediately, instead of putting it on their credit.

Those consumers that plan to use credit cards for some purchases may simply have a different financial strategy than others. They could have the means to purchase without credit cards, but want to them to build up a good credit score. Or they could be spending beyond their means and be getting themselves into a financial disaster.

Another interesting insight regarding the majority response was the income of those who chose that answer. People earning $25-49K annually chose “I will not use it at all” more than those earning $50-74k annually. Out of the 47.5 percent, 53.3 percent earn $25-49K annually.

The BCRC team is interested to see the effects of this survey at the beginning of the New Year when the bills are coming in. The strategies of those using credits cards versus those not using credit cards will become clearer.

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To find out more regarding this survey and the credit repair companies, visit

Media Contact:
Kate Ward