12/20: Majority Says, “No,” to Credit Card Use During Holidays

The hustle and bustle of the holiday season is well underway, and as cash registers nationwide ring up all of those holiday purchases, there is one thing missing — plastic.  56% of U.S. adults who spend money on holiday shopping say they are not using credit cards while purchasing their holiday presents.  26% are buying some of their gifts on credit while 9% are using their credit cards for most of them.  An additional 9% are charging all of their holiday purchases.

©istockphoto.com/NWphotoguy

©istockphoto.com/NWphotoguy

Income does play a role here.  66% of those who earn less than $50,000 annually do not plan to use their credit cards for any holiday gifts while less than half — 47% — of those who earn $50,000 or more say the same.

Younger Americans are more likely to put the plastic away.  70% of those 18 to 29 are not using credit cards when buying their holiday gifts.  This compares with 57% of residents 30 to 44, 56% of those 45 to 59, and 48% of those 60 and older.

Table: Credit Card Use During the Holidays
Table: Credit Card Use During the Holidays (Over Time)

Credit-Card-Use-During-Holidays

Click on the graph to enlarge the image.

Online Shopping Up for the Holidays

More holiday shoppers in the United States are making their purchases online.  42% are buying some of their gifts online while 11% are purchasing all or most of them electronically.  47% are not using the web at all for their holiday shopping.

When Marist last asked this question in 2007, more Americans are making at least some of their holiday purchases online.  Three years ago, 37% bought some of their presents this way while 4% logged on to buy all or most of them.  A majority — 58% — did not use the internet at all for this purpose.

Currently, those who make less annually are less likely to buy online than are those who earn more.  61% of those who make less than $50,000 a year are not using the internet for any of their holiday gifts.  This compares with 31% of those who earn $50,000 or more.

Table: Online Holiday Shopping
Table: Online Holiday Shopping (Over Time)

Online-Holiday-Shopping

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Scrooge or Santa? Majority Plan to Spend About the Same on Holiday Gifts

When it comes to their holiday shopping habits, 51% of adults who buy holiday gifts are spending about the same amount of money they did last year.  40% are shelling out less while just 9% are spending more.

While nearly six in ten – 58% — of those who earn $50,000 or more annually report they are going to spend the same as last year, 44% of those who make less say the same.  An additional 44% in this income bracket plan to spend less compared with 35% whose annual salary is $50,000 or more.

Currently, Americans 18 to 29 (23%) are more likely to spend more this year than are those 30 to 44 (7%), those 45 to 59 (4%), and those 60 and older (6%).  Women (43%) are more likely than men (37%) to spend less.

Table: Holiday Spending Habits
Table: Holiday Spending Habits (Over Time)

Holiday-Spending-Habits

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Marist Poll Methodology