Michigan vs. U.S.

2018 Credit Card Shopping

MIUS
Compared cards34.137.8
Did not compare58.156.1

Michigan vs. U.S.

% Did Not Compare Credit Cards

MIUS
200961.562
201260.560.6
201560.158
201858.156.1
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Most Americans do not compare offers or collect information from more than one company when shopping for credit cards. This practice suggests a gap in applying financial decision-making skills to real life situations.

Not performing basic research when shopping for credit cards can result in higher interest rates and, consequently, higher borrowing costs.