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Majority of Americans Say They Don’t Overuse Credit Cards

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Majority of Americans Say They Don't Overuse Credit CardsIn all, 71 percent of consumers say they don’t need to cut back on using their credit cards, according to a new poll from Rasmussen Reports. Conversely, just 24 percent acknowledge their overspending on these accounts. Both figures are largely unchanged from a similar poll conducted in April 2009.

However, 86 percent of consumers also feel as though most Americans do overuse their credit cards, while just 5 percent disagreed, the report said. Another 83 percent of respondents said they thought credit cards tempt people to buy items they can’t afford to purchase, and 64 percent believe it’s too easy for people to obtain a new credit card.

Further, consumers were doubtful about the future of credit cards, the study found. Nearly half expect to pay higher interest rates at this time next year, while 27 percent revealed they are currently paying a higher rate than they were a year ago.

As the economy continues to grow stronger in the wake of the recent recession, many consumers are beginning to spend more on their credit cards than they have in the last few years.

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