CardRatings.com Poll: Majority of Consumers Plan on Spending More on Credit Cards This Holiday Season

A recent poll conducted by CardRatings.com found that a majority of consumers anticipate spending more on their credit cards this holiday season than last. Our founder and consumer advocate Curtis Arnold believes this may be an encouraging sign of consumer confidence as the nation slowly recovers from the recession.

 

"I think it is encouraging that consumers are indicating that they are going to spend more on their credit cards this holiday season," Arnold said. "I can't help but think that this translates into increased consumer confidence."

Of the nearly 500 poll respondents, 300 poll takers, or 62 percent, plan on spending more this year than last, while 140--nearly 29 percent--plan on spending less. The remaining 43 respondents--nearly 9 percent--plan on spending about the same.

"Many polls have highlighted the fact that more consumers are going to be using debit cards as opposed to credit cards this holiday season," said Arnold. "But the interesting thing about our poll is that it seems to suggest that those consumers who do plan on using credit will be using credit more liberally this holiday season."

The poll asked CardRatings.com site visitors, "How much do you plan on spending on your credit cards this holiday season compared to last?" Detailed results are below:

$500+ more -- 114 votes

$0 to $500 more -- 186 votes

About the same -- 43 votes

$0 to $500 less -- 76 votes

$500+ less -- 64 votes

Please note that this poll is not a scientific poll. Responses are representative of visitors to CardRatings.com and are not necessarily indicative of responses from the general public.

To interview Curtis, please contact: Andrew Heilman, 775-784-3842 or pr@cardratings.com