April 26, 2011
Subprime Card Holders and Those Carrying A Balance More Inclined to Shop for Cards
The 2010 Online Credit Card Report reveals one in five cardholders reports having shopped for a new credit card in 2010. This figure varies among those who have a more positive view of the economy, those with different perceptions of their credit ratings, and those with different levels of balance holdings. Among consumers who feel the economy is good or excellent, the figure is 34 percent.
A higher percentage of subprime consumers (26 percent) and those who carry a balance (23 percent) also reported shopping for a new credit card, when compared to prime consumers and consumers who did not carry a balance on their cards.
Read the full press release for the report here.