Survey finds consumers will spend $477 more on average if they pay for gifts using credit cards

Foster City, CA – November 26, 2019 – Savvy consumers who save and use cash or debit cards to pay for their holiday gifts spend $737 less on average, while those using credit cards spend a good deal more: $1,214 on average. That’s according to’s latest holiday money habits study., a leader in credit card ratings, asked 800 people how they plan to pay for holiday gifts and how they feel about gift buying during the holiday season. The survey responses show that spending habits differ slightly by gender, and more distinctly by those who use credit cards versus cash to pay for gifts. 

Beyond paying significantly more when using credit cards, some of the key findings include:

  • The most popular form of payment for holiday gift spending is credit cards, with 43% of men and 48% of women planning to use credit cards for their holiday gift purchases.
  • Debit cards are the second most popular form of payment for women (30% of women vs. 27% of men) while cash is the second most popular with men (22% of men vs. 16% of women)
  • 23% of survey respondents say they “anticipate opening a new credit card this holiday season.” 
  • Men using credit expect to spend on average $1,187 total, while women using credit expect to spend $1,241 total.
  • Of those planning to use credit cards, 21% of men and 28% of women say they usually pay off their balances each month, but expect to carry a balance on their cards because of holiday gift spending.
  • Of those who expect to carry a balance, 76% said they would consider opening an intro 0% APR credit card to manage their balance.

Done well, consumers can rack up valuable credit card rewards and gain access to manufacturer’s extended warranties, or switch to a 0% APR.’s credit card expert Brooklyn Lowery, the report’s author, can talk about smart budgeting for the holidays, as well as how consumers can use their credit cards safely this holiday season.

You can also read an article summarizing the complete survey results:


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