Science & Technology

US holiday season expects big jump in store credit cards applications

More Americans are going to apple for store credit cards this holiday season

credit card

US holiday season expects big jump in store credit cards applications. Source: unsplash.com

According to the report, a lot more Americans are likely to apply for a store credit card this holiday season compared to 2018.

That’s despite the fact that 56% of people who say they’ve had a store credit card say they’ve regretted getting one. In 2019, just 46% of consumers regretted getting a store card.

The data reveals that 44% of Americans are at least somewhat likely to apply for a store card during the holiday shopping season. That’s up from 32% in 2019 and 24% in 2018.

Besides, 49% of those who have had a store-branded credit card currently have debt related to that card.

At the same time, 63% of consumers said that they’d felt pressured by a sales associate in the past to sign up for a new store card.

Nearly half of those who said they felt pressured in the past did actually sign up for the card because of that pressure.

We’ve reported that Canadians overspent during last year’s holidays.

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