More than 3 in 10 Americans successfully applied for a store card during the holidays

How many Americans applied for store credit card during 2019 holidays: survey. Source:?shutterstock.com

CompareCards revealed that 37% of Americans applied for a retail credit card during the 2019 holiday season, compared to 28% in 2018.

The survey showed that only 28% of those who got a new store credit card during the holidays expect to pay their first purchase off within a month. Furthermore, 14% of those who applied said they were forced into it by the cashier.

A to the major reasons for that, 54% of customers revealed they did so due to a special discount, whereas 27% said they didn’t have the funds to otherwise pay for holiday shopping.

Study shows that only 6% of consumers who applied for a retail credit card were denied, compared to 9% during the 2018 holiday season.

However, customers also unveil they won’t be able to pay their first purchase off in under a month. This way, more Americans are expected to pay off their holiday debts in February and March.

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