Consumers now seeking credit cards again
While many consumers either cut or entirely discontinued their credit card use during the recession, recent improvements in the national economy and their own finances have led some to begin feeling comfortable about dealing with credit card debt again.
A recent poll of more than 1 million consumers found that 20 percent sought new credit card accounts during the last 12 months, according to statistics from the tracking firm comScore. Another 34 percent of consumers said they were feeling optimistic about the economy’s prospects going forward.
The largest portion of the consumers who sought new a credit card – 40 percent – said that finding one with a low interest rate was their primary concern, while 28 percent indicated that obtaining an account with no annual fee was their goal, the report said. Another 13 percent indicated that they wanted a card that would grant them rewards points. The most popular rewards option was cash back, with 57 percent of respondents preferring it.
However, many Americans may be unable to obtain new lines of credit as a result of past defaults.