Credit cards are probably the most convenient way of making payments. It has made life a lot easier since you don’t have to carry a huge amount of money with you while shopping. Even in urgent need of money, the only thing that comes to the rescue is your credit card. These are used in every part of the world, however; different people have different opinions about it. But, if we talk about Americans specifically, they love spending money via credit cards.
The infographic below shares a breakdown of monthly credit card spending done by Americans. As it shows, the highest number of transactions were made for travel purposes i.e., up to $822 which account for 16.9 percent of the total spending. This is also because of the travel restrictions that have been released by a majority of the countries and hence, Americans flew around the globe.
Followed closely by General Merchandise, Americans spent nearly $815 via their credit cards on these which is about 16.7 percent. When it comes to eating at a restaurant or shopping, a significant share is seen here as well i.e., 11.6 percent and 10.7 percent, respectively.
The average monthly spending on groceries through credit cards was made for a total of $562 or 11.5 percent of the total spending. The figure is pretty close to the spending made in restaurants. Gas and online services have also been paid through credit cards by Americans and the monthly average calculated is $168 and $331, respectively.
Infographic by: Visualcapitalist.com