Credit Card Industry Statistics

Where do you access the most recent credit card industry statistics?
 
    
How do you make sure that the data you receive is the most reliable? Does having an idea of these credit card industry statistics help you with your finances? How?

The best places to gather data on credit card industry statistics are consumer, government, and research organization websites. These three are the most reliable places to get a glimpse of the most up-to-date information on the credit card industry because you are sure that they have no other intention besides raising awareness in consumers. The top websites and think tanks that give a glance to the most recent credit card industry statistics include creditcard.com, J.D. Power and Associates, Nilson, the Reputation Institute, and FICO. All of these organizations present results of surveys and other research studies done on credit cards, credit card issuers, and consumers. The best thing about data obtained from them is that they give a time period of the relevance of the results. This way, you can see and compare the dynamics from one period to the other.

Access to credit card industry statistics will definitely give consumers and policy makers an overview of the industry, influencing them with their choices on which companies to trust or investigate. On the part of consumers, having a look at the most trusted credit issuers will help decide which company they should get their credit cards from and which ones they should avoid if they want quality service. For authorities, having an idea of the behavior of credit card companies and consumers alike will help especially in policy making. In fact, the most recent credit card law passed, the Credit Card Act of 2009, was heavily influenced by credit card industry statistics obtained from federal and consumer organizations.

Credit card industry statistics include data on the number of credit cards in circulation from all card issuers, which issuer has the most credit cards in circulation, which issuer receives the most complaints, and which one is the most trusted. Credit card industry statistics also give an overview of the average credit card debt of the populace and their payment behavior. It even shows the regions and states that have the highest and lowest average credit card debts. These facts help credit card companies re-organize and restructure their business models in these areas.

Credit card industry statistics offer an overview of both credit card and consumer statistics in the United States, giving consumers, card issuers, and the government an idea of the situation of the industry and a peek on the direction it is taking, ultimately helping them make better decisions on their finances, their business strategies, or the laws that they make.



  

Source: Credit Cards For People With Bad Credit Rating


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