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Using Credit Cards

Are your spending habits different from those of others?

Americans love their credit cards, no matter what their age.  But does the way the 50-plus crowd uses plastic differ from that of their younger counterparts?

The AARP Bulletin teamed up with the independent research firm ORC International on a national poll. Here are the results.

Americans and Their Credit Card Habits

 

  Ages 18-49 50-plus
How many credit cards do you have?    
None 34% 16%
1 22 18
2-3 28 39
4-5 11 16
6-7 2 6
8-9 1 2
10 or more 1 2
     
In the last six months, have you missed paying at least the minimum balance on a credit card?    
Yes 17% 6%
No 83 94
     
What types of purchases or payments do you make using your credit card?    
Groceries 60% 56%
Health care 38 44
Travel 55 68
Gas 65 63
Clothing 62 72
Dining out 65 63
Entertainment 51 43
Monthly bills (utilities, phone, etc.)
33 29
Child care 3 1
Car payments 6 4
Insurance 19 19
Home maintenance 28 39
Car maintenance 40 54

The results were taken from a survey of 1,019 adults age 18 and older conducted Feb. 23-26, 2012.

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