Shoppers concerned about adding debt
With big shopping days like Black Friday and Cyber Monday around the corner, a new poll is showing that more than two-thirds of all shoppers are concerned about adding credit card debt this holiday season.
The poll conducted online by Harris Interactive and Green Dot, a financial services company which offers prepaid cards, surveyed more than 2,000 adults about fiscal topics.
Like many similar polls that have been conducted this year, the study found more consumers plan to use debit cards, cash, checks and gift cards this year. Of the respondents who said they used credit cards for last year’s purchases, 25 percent say they are less likely to use them, while 10 percent say they will not be using the cards at all, Marketwatch reports. In addition, 55 percent of those between 35 and 54 say they were concerned about accumulating debt.
“We applaud consumers for being fiscally responsible this holiday season and encourage them in their efforts to have a happy and debt-free holiday,” said Steve Streit, Green Dot’s chief executive officer.
The study also found 52 percent of women are concerned about debt, whereas only 45 percent of men said they worry about debt.