Consumers might be warming up a bit to using credit cards again after overindulging in card use during the recession, a new poll suggests.
But while some folks may be more inclined to whip out their credit cards to make routine payments, it remains unclear whether they will dare to revolve a balance again and risk paying interest.
A mere 6% of consumers responding to a poll the National Foundation for Credit Counseling conducted online in December said they plan to reduce their dependence on credit cards in 2012 compared with 7% who said so a year earlier.
At the same time, 62% of respondents said they plan to decrease debt in 2012. That is down a bit from 69% who vowed a year earlier to cut their debt, but it still suggests a strong aversion to carrying a credit card balance.
That more than half of respondents want to avoid racking up debt this year is “an encouraging statistic” for credit counseling agencies, Gail Cunningham, a spokesperson for the nonprofit consumer credit-counseling organization, said in a Jan. 3 press release.
Respondents seem to be getting more interested in their credit-risk profiles, which could suggest an appetite for expanding their credit lines.
Nearly a quarter, or 24%, of respondents said they wanted to improve their credit scores compared with 18% who said so a year earlier.
“If consumers are able to decrease their debt load, continuing to use credit responsibly will help them meet (their credit-score goals),” Cunningham said.
Consumers continue to place a low priority on saving money for a rainy day, the poll suggests.
But some plan to put away more money in their piggy banks this year than they did in 2011. Eight percent of respondents said they plan to increase their savings in 2012 compared with 7% who said so last year.
The Silver Spring, Md.-based foundation conducted the poll on its website between Dec. 1 and Dec. 31, drawing participation from 2,319 individuals across the U.S.
