NAPLES, Fla. — Credit unions that have been riding a strong strain of card use this year might want to look out for a potential contraction, according to Cardtrak.com, a Web site that tracks card trends.
Cardtrak noted that American consumers put more than $2 trillion on their credit cards and $1.4 trillion on their debit cards in the last year, but said a recent online survey suggested the trend might not continue.
In a poll of more than 3000 consumers reported that 64% said they are planning on reducing overall card usage in 2008 and 19% reported that that they plan to cut their credit cards up this year. Consumers reported taking particular aim at restaurant spending, travel and gas as expenses. Cable television executives should also take note that 24% of the consumers reported reviewing their television habits.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
