[NEW CHART] US credit card spending is at its peak and issuers have a big opportunity to capture lasting spend

Fully understand how AI can help banks improve engagement with this chart.

NEW CHART & DATA: PAYMENTS How high holiday season credit card spending can benefit issuers… Credit cards are users' top spending instrument for the holiday season, beating out cash and other payment methods, according to a new study of US adults conducted by CardRates.com. Over half of respondents plan to use credit cards for their holiday shopping, serving up an opportunity for issuers to grab lucrative spending and help customers form habits around their cards that could last beyond the season. View full chart data→ * This chart is available to Ultimate Payments Research Bundle subscribers. You can get access to this report and other timely updates when you sign up today. The seasonal shopping study provides some insights about card habits at a time when credit cards are immensely popular: Of the 61% of customers who will use credit cards for holiday shopping, most will use them for the lion's share of these purchases. A third of all consumers plan to use their cards for three-quarters or more of their holiday spending, and 20% will do so for all of their shopping. A surge in e-commerce spending this holiday season, which necessitates card payment usage, could be one reason that credit cards are top of wallet this year. Credit card spending is peaking in the US, so seasonal popularity also augments a broader trend. US consumer debt is growing at its fastest rate in 11 months, and rising credit card debt is a contributing factor, hitting $84 billion in its 14th consecutive quarter of growth in Q3 2018, according to the Federal Reserve Board of Governors. This streak is poised to continue through Q4, when customers are spending more than ever. In fact, US balances overall could grow by 5% or more through the end of this year, according to LendingTree. Subscribe risk-free to view The Full Analysis Here's a summary of what you'll receive when you subscribe to the Ultimate Payments Research Bundle today: 52 immediately accessible research reports and data-sets, including The Payments Ecosystem Report. At least 15 new Payments reports over the next 12-months. Insightful newsletters and charts about everything important taking place within the payments space. 14-day money back guarantee period so you can access all of the above risk-free! Other research highlights you don't want to miss Steady growth in debit card usage increases debit's value for issuers Though credit card usage is in the spotlight as US consumer debt appetite grows, consumers are... Access Full Chart → Fraud concern is on the decline among payments providers Fraud, security, and data privacy seem... Access Full Chart → Subscribe to BI Intelligence's Ultimate Payments Research Bundle today and you'll have instant access to 100s of charts like these, daily briefings in seven key coverage areas and a members-only Research Center filled with insightful reports. Sign up risk-free Today! Copyright © 2018 Business Insider, Inc. All rights reserved.

Email sent to: nguyenvu1187.love5@blogger.com Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy © 2018 Insider Inc. 1 Liberty Plaza, New York, NY 10006