Do Women Make More Credit Card Deals?
It is no secret for banks and credit card companies that a great portion of American credit consumers is going over to women. Companies, however, do not report the statistics to reveal the percentage of women making credit card deals but women's growing activity is quite well-defined. There are certain categories of products that women tend to buy with credit cards and they are different from men's preferences.
Thus, analyzing the selling figures of the merchandise in supermarkets or on web sites, we get a well-formed picture of women credit card use.
A growing portion of credit card service for women also defines notable gender difference in the way credit cards are managed. What's interesting is that American women's tendency to use more credit cards is reflected in other countries where credit card industry is still in the process development and fixation.
Let's take India for example, where such giant credit card companies as Visa and MasterCard, are actively promoting their services. Though the credit card use is not so significant in this country yet, women are occupying an increasing part of the whole customer base.
Just like American women, those in India also reveal certain inclination to co-branded credit cards with retail chains and the number of credit card deals for them is also raising. Co-branded credit cards offer terms and programs without which a woman would probably never apply for credit card at all.
Credit card as driving license, a new product among co-branded credit cards, has been a special favor among Indian female credit consumers due to the combination of different services and convenience. The popularity of such credit cards doesn't come from nowhere.
The point is that most women using credit cards as the main payment tool belong to financially independent, career women or housewives from well-off households. Car is the mere necessity for their businesslike life - so why not reduce maintenance expenses and add comfort with the special credit card?
Now, let's draw a parallel between the peculiarities of men's credit cards use and those of women. Let's first refute the argument that women are the biggest spendthrifts and pull out their card just to earn more credit card rewards.
Known are cases when men cannot stop themselves from charging their credit card at supermarkets - and that's exactly the place where most of credit cards transacting is carried out. More frequently, however, men spend on travel and entertainment. Books and music CDs are also regularly put on credit cards, sometimes leaving the family monthly budget ruined.
What about women? Despite the conventional statement that women tend to misuse their plastics and cash in everything they see on the way, their purchases seem to be quite to the point, too. They shop mostly for groceries, dinners at restaurants, gifts and, surprisingly enough, petrol.
Such tendency as paying with credit cards for online gambling or cup of coffee at every next fast food has not, however, leaked into the credit card sphere yet and on the whole the way credit is managed in India is still times more reasonable than in the West.
One thing is true - women's part in credit card deal making is rising, contributing to the faster development of the credit card industry in India.
