CardRatings.com Poll Finds Majority of Consumers Plan on Spending More on Their Credit Cards This Holiday Season

CardRatings.com--the most comprehensive free source for comparing credit card offers--recently conducted a poll asking consumers how much they plan to spend on their credit cards this year as compared to last year. More than 60 percent of respondents plan on spending more on their credit cards this holiday season than last. CardRatings.com founder and consumer advocate Curtis Arnold weighs in.

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Little Rock, AR (PRWEB) December 14, 2009

A recent poll conducted by CardRatings.com (http://www.cardratings.com) --the most comprehensive free source for comparing credit card offers--found that a majority of consumers anticipate spending more on their credit cards this holiday season than last. CardRatings.com founder and consumer advocate Curtis Arnold believes this may be an encouraging sign of consumer confidence as the nation slowly recovers from the recession.

"I think it is encouraging that consumers are indicating that they are going to spend more on their credit cards this holiday season," Arnold said. "I can't help but think that this translates into increased consumer confidence."

Of the nearly 500 poll respondents, 300 poll takers, or 62 percent, plan on spending more this year than last, while 140--nearly 29 percent--plan on spending less. The remaining 43 respondents--nearly 9 percent--plan on spending about the same.

"Many polls have highlighted the fact that more consumers are going to be using debit cards as opposed to credit cards this holiday season," said Arnold. "But the interesting thing about our poll is that it seems to suggest that those consumers who do plan on using credit will be using credit more liberally this holiday season."

The poll asked CardRatings.com site visitors, "How much do you plan on spending on your credit cards this holiday season compared to last?" Detailed results are below:

$500+ more -- 114 votes

$0 to $500 more -- 186 votes

About the same -- 43 votes

$0 to $500 less -- 76 votes

$500+ less -- 64 votes

Please note that this poll is not a scientific poll. Responses are representative of visitors to CardRatings.com and are not necessarily indicative of responses from the general public.

CardRatings.com (http://www.cardratings.com) has been educating consumers about credit cards since 1998 and has been featured by hundreds of media outlets including The Wall Street Journal, Good Morning America, The New York Times, and The Today Show. Thanks to consumers, CardRatings.com has become the most comprehensive free source for comparing credit card offers and has helped over a million people find the best credit cards for their individual needs.

Curtis Arnold is available for interviews on this topic and others relative to the changing trends in the credit card industry.

To interview Curtis, please contact: Jessica Austin, 479-452-0019

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