Consumers Think They Have Good Credit Habits

A recent survey by Rasmussen Reports found nearly 90 percent of Americans think the U.S. population as a whole should cut down on credit card usage, but less than one-quarter of adults think they should cut back on their own credit habits.

The report found 71 percent of consumers do not think they need to cut back on their credit practices. But, when adults with one or more credit card were asked, close to 40 percent admitted a need to trim down their usage. More than 80 percent of the 1,000 surveyed think credit cards generally lure consumers into purchasing items that are out of their price range.

More than 60 percent of Americans think it is too easy for an adult to obtain a credit card. Nearly one in every two people expect their interest rates to increase, which could increase the credit burden on those who already have financial issues.

Consumers who spend out of their affordability range may be at a high risk for credit card debt. In order to avoid using debt relief programs, it may be wise to cut back on credit card use significantly, especially if high balances are a common problem.