Christmas spending on credit cards

Dec 3, 2012

Q. How much of your Christmas spending will you put on your credit cards?

 

5 Dec 11

3 Dec 12

All or most of it

23%

26%

A bit more than half

7%

8%

About half

9%

7%

A bit less than half

5%

5%

Not much

17%

10%

None of it

37%

36%

Won’t be buying Christmas gifts

na

4%

Don’t know

3%

4%

41% say they will put at least half their Christmas spending on credit cards – and a further 15% will put some spending on their credit cards.

Those most likely to use credit cards for at least half their spending were aged 35-44 (54%) and those least likely were aged 18-24 (18%). Those on higher incomes were much more likely to use their credit cards for Christmas spending – 55% of those on incomes over $1,600pw said they would put at least half on credit cards compared to only 20% of those on incomes under $600pw.

Christmas Spending on Credit Cards

Dec 5, 2011

Q. How much of your Christmas spending do you put on your credit cards?

All or most of it 23%
A bit more than half 7%
About half 9%
A bit less than half 5%
Not much 17%
None of it 37%
Don’t know 3%

39% say they will put at least half their Christmas spending on credit cards – and a further 22% will put some spending on their credit cards.

Those most likely to use credit cards for at least half their spending were aged 25-34 (49%) and those least likely to use credit cards for Christmas spending were aged 18-24 (22%). Those on higher incomes were much more likely to use their credit cards for Christmas spending – 54% of those on incomes over $1,600pw said they would put at least half on credit cards compared to only 18% of those on incomes under $600pw.

41% of those who say they are very concerned about their level of credit card debt and 54% of those who are somewhat concerned say they will put at least half their Christmas spending on credit cards.

Comments »

Credit Card Debt

Dec 5, 2011

Q. How concerned are you about the amount you currently owe on your credit cards?

Very concerned 11%
Somewhat concerned 16%
Not very concerned 27%
Don’t owe anything on credit cards 44%
Don’t know 1%

27% say they are very or somewhat concerned about the amount they owe on their credit cards. Those most concerned were aged 35-44 (35%) and full-time workers (35%). There was little difference across income groups.

12% of those who intend to put more than half their Christmas spending on credit cards say they are very concerned about their current credit card debt and 23% are somewhat concerned.

Comments »