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Credit Cardholder Survey Reveals Early Changes from the Pandemics Onset

Mercator Advisory Groups survey documents the changing patterns of U.S. credit cardholders as they grapple with the realities of the pandemic.

Image of Cindi Choi By Cindi Choi.
Updated Mar 25, 2021

BOSTON (PRWEB) March 25, 2021 - Mercator Advisory Groups most recent report, 2020 North American PaymentsInsightsCredit Cards: Navigating Rough Waters, documents the changing patterns of U.S. credit cardholders as they grappled with the new realities of the pandemic, and their shifting choices in the use of payment cards. The survey of 3,000 U.S. adults (June 2020) represents a continuation of a series of consumer and business surveys conducted annually by Mercator Advisory Group since 2009.

While credit cards remain the preferred payment card both in-store and online, the number of households reporting they use a general purpose network branded credit card was down in 2020. Non-revolving charge cards and debit cards are the primary beneficiaries when consumers reduce their use of credit cards.

These survey results are a foreshadowing of changes expected to play out more dramatically in 2021, stated Theodore Iacobuzio, Vice President of Research at Mercator Advisory Group. Shifts in card usage, and notably credit card rewards, may have major strategic impacts down the road for card issuers.

Highlights of this report include:

This report is 58 pages long and contains 34 exhibits. One of the exhibits in this report:

Subscribers to Mercator Advisory Group North American PaymentsInsights Survey Series have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.

Please visit us online at http://www.mercatoradvisorygroup.com.

For more information and media inquiries, please call Mercator Advisory Group's main line: 1-781-419-1700 or send email to media@mercatoradvisorgroup.com.

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About Mercator Advisory Group Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.