CIBIL Survey Says Credit Cards Usage on a Rise

TransUnion-Cibil, which surveyed 1,088 urban adults online between July 13 and 18 have come out with their findings.

Here’s a close look at it.

 

fast track credit card usage

The credit card usage is on a fast track, with 57% of the cardholders transacting more than they did a year ago, and now more people want to join the plastic credit rally.

 

consumers said they used their credit cards to pay bills

59% of the surveyed consumers said they used their credit cards to pay bills while 53% used for large purchases.

 

advantage of discounts

45% respondents used it for payments to take advantage of discounts and other rewards.

 

don't like to carry cash

Among the 18-24 year-olds, credit cards have been used over other forms of payment because they don’t like to carry cash (24%) against 14% of credit cardholders aged 45 years and older.

 

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