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December 17, 2013

Americans credit card holders remain loyal: CardRatings.com survey

Around 63.1% and 37.5% of customers in the US hold credit cards for five years and ten years respectively, according to a survey conducted by Op4G for CardRatings.com.

By Verdict Staff

Around 63.1% and 37.5% of customers in the US hold credit cards for five years and ten years respectively, according to a survey conducted by Op4G for CardRatings.com.

The survey, which questioned 2,000 adults, found that Americans were not only loyal to their old cards but also were easily tempted to buy a new card.

Around half of the respondents said though the old cards are present in wallet, they use new credit cards for transactions.

The survey also found that 35.2% and 55.6% respondents had added a new card in the last one year and two years, respectively.

The main reasons for people to add new cards are to avail cash-back rewards and lower interest rate.

Among the gender groups, 22% women respondents signed up for new card to avail concierge services, compared to 17.7% of men, who usually opt for cards with sign up bonuses.

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