Tag Archives: comparing credit

How often do you use your credit card?

Credit cardsIn January we asked our Twitter audience how often they use your credit card, and over 3500 of you replied.*

Over half of those who responded (53%) said they use their credit card at least once a week – with over one in four (27%) saying they use it every day.  Just over one in five (21%) said they use it monthly, while just over one in four said ‘other’.

We also asked How much of your credit card balance do you pay off every month?**
41% said they pay off the full balance of the card , while 18% told us they make sure they pay the minimum payment. A further 29% said they pay only what they can afford.

Finally, we asked What’s your priority when deciding to switch or compare cards***.
43% told us that reducing the interest they pay was the biggest priority, while 32% said that it depended on which rewards and benefits were available.

A wide range of responses such as this could mean that different credit cards may suit different people.  Think about what you actually want a credit card for. Is it for doing the weekly shop? Making a large purchase?  Or paying off a current debt at a better rate? Continue reading