Millions of consumers hold credit cards and many households hold more than one. However, some consumers are Transactors –they are likely to carry a credit card balance and likely to pay off that balance, while other consumers are Revolvers – they are likely to carry a balance, but are less likely to pay it off, thus accruing interest charges. Let’s take a look at the profile of Transactors versus Revolvers. Then, enhance your digital marketing strategies by targeting credit card and many other consumer segments online.
U.S. Credit Card Stats
For the average U.S. household, credit card balances represent about 6.6% of all outstanding credit. Here are some more details about credit card usage for U.S. households:
Account Type: Mean Outstanding Card Balance per Household (HH) (Average Number of Cards per HH)
- All Credit Cards: $7,164 Balance (5.4 Cards)
- Bank Cards: $6,423 Balance (3.6 Cards)
- Retail Cards: $741 Balance (1.9 Cards)
Source: CreditStyles® Pro, June 2017.
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