Credit cards reemerge from pandemic as multifaceted financial management tools

Whether it’s for convenience, rewards or the benefits of better data security when making a transaction, consumers with revolving credit are using it not just to fund their spending splurges, but to manage their finances and boost long-term financial freedom.

At a time when roughly six in 10 working Americans overall are living paycheck to paycheck, traditional credit is still among the most powerful tools available — as long as it is available and being used smartly.

Among various users of revolving credit, we see related — but fundamentally different — behaviors.

With 52% of active credit card users living paycheck to paycheck and “sometimes,” “always” or “usually” revolving their balances, compared to only 20% of active card users not living paycheck to paycheck, credit cards are clearly a budgeting tool for many.


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