CHARLOTTE, N.C., Dec. 14, 2018 /PRNewswire/ -- CompareCards by LendingTree today released its monthly Credit Card Confidence Index that found Americans' confidence in their ability to pay their monthly credit
card statement balances in full dipped slightly in December.
The Credit Card Confidence Index is a monthly survey intended to gauge Americans' confidence in their ability to pay their
cards' bills in full now and in the future, as well as to track how often cardholders' have paid their bills in full. Each month,
CompareCards asks American credit cardholders to rate their confidence in the ability to pay their credit cards' monthly
statement balance in full this month and six months from now and how often they've paid those balances in full in the past six
months.
This monthly report – which debuted in September 2018 – shows that Americans are clearly
confident in their ability to pay their credit card bills, but it also leaves open the possibility that their confidence might
have peaked as 2019 approaches.
December Credit Card Confidence Index Key Findings:
- Cardholders' confidence in paying their monthly credit card statement balances in full this month fell
slightly.
-
- Sixty-one percent of cardholders said their confidence level was a 4 or a 5, down from 64 percent last month, but still
up from September and October.
- Twenty-six percent of cardholders rated their confidence level a 1 or 2. That's up from 25 percent last month, but down
from September and October.
- Cardholders' confidence in being able to pay the month's credit card statement balances in full six months from now
dipped slightly.
-
- Sixty-seven percent of cardholders said their confidence level was a 4 or a 5. That's down from 71 percent last
month.
- Eighteen percent of cardholders rated their confidence level a 1 or 2, up from 16 percent last month.
- Thirty-seven percent of respondents said they paid their monthly card statement balance in full each of the past six
months – the highest number since the Index began. However, 20 percent of respondents said they never paid their statement
balances in full a single time during that period.
- When it comes to handling credit cards, the confidence gap between men and women is shrinking, with 51 percent of
men and 42 percent of women saying they're very confident in their ability to pay this month's statement balances in full.
"Given holiday spending and the recent Wall Street roller coaster ride, it's not surprising to see a bit of a drop in
Americans' confidence in their ability to pay their monthly statement balances," said Matt Schulz,
Chief Industry Analyst at CompareCards. "Frankly, the fact that it didn't dip more may be a testament to just how confident
Americans still feel about their finances. That seems like a good sign for consumers' credit card confidence in 2019, and
Americans may need that strength in the new year. While the economy is certainly strong today, the next few months hold many
potential landmines as people wrestle with increasing debt, rising interest rates, an unpredictable political landscape and a
volatile stock market. For now, however, there's no question that most Americans will start the new year confident in their
ability to pay their credit card bills in 2019."
To view the full report, visit https://www.comparecards.com/blog/credit-card-confidence-index-americans-slightly-less-confident-about-paying-credit-card-bills-in-december/.
About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online marketplace that connects consumers with the choices they
need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way
they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in
one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage
refinances, auto loans, personal loans, business loans, student refinances, credit cards and more. Through the My LendingTree
platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. My LendingTree
proactively compares consumers' credit accounts against offers on our network, and notifies consumers when there is an
opportunity to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments
through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to
www.lendingtree.com, dial 800-555-TREE, like our
Facebook page and/or follow us on Twitter @LendingTree.
About CompareCards:
CompareCards' mission is to help people make smarter, more informed, healthier financial decisions based on deeper
knowledge of financial offers. Each month, over 2.9 million visitors come to CompareCards' website to independently compare
credit cards side-by-side and choose a credit card based on interest rate, reward benefit, cost savings, and other factors that
are important to each person. CompareCards provides easy-to-use, objective tools and educational resources that help people do
everything from making credit card comparisons to managing their credit health. For more information, please visit www.comparecards.com.
MEDIA CONTACT:
press@comparecards.com
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SOURCE CompareCards