How important is credit to you?

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NOTE TO PRODUCTION: For each of the questions below, the survey respondents were instructed to choose only one response.

Base = 1,004

1.         People use various sources of credit, such as credit cards, store cards, payment plans, etc.  Which of the following best describes how you would feel if these sources of revolving credit lines dried up? 

            You would be devastated because you depend on it so much                      5%

            It would be painful, but you’d survive                                                                  20%

            You would be slightly annoyed                                                                            34%

            You wouldn’t care at all                                                                                          40%

            Don’t know                                                                                                                1%

2.         Please indicate if you strongly agree, somewhat agree, somewhat disagree or strongly disagree with each of the following statements.

3.         Do you have any credit cards?

                                                Yes                                         72%   

                                                No                                           28%   

4.         Have credit card companies either increased or decreased your line of credit on any of your credit cards in the past 12 months?

            Base = 804

            Your line of credit was increased                                                 41%

            Your line of credit was decreased                                                6%

            Some were increased, others were decreased                          4%

            Your credit line was unchanged                                                   44%

            Don’t know                                                                                        5%

5.         Which of the following best describes how you envision your credit card usage during the next calendar year?

            Base = 804

            You will probably charge more                                                                             1%

            You will probably charge less                                                                               32%

            You won’t change how often you use your credit cards                                  50%

            You don’t plan on using credit cards at all in 2009                                           15%

            Don’t know                                                                                                                2%

6.         What is the single biggest reason you use credit cards?

            Base = 804

            Because it is easier/more convenient than paying with cash                         40%

            To finance emergency expenses                                                                         19%

            To get by when you run out of cash                                                                     14%

            To earn rewards points or cash back                                                                   10%

            To finance big-ticket items                                                                                     7%

            To make it possible to purchase things you want                                              6%

            Don’t know/no response                                                                                        4%