ISLANDIA, N.Y., March 8 (UPI) -- Forty-five percent of U.S. credit card users pay the minimum amount or skip payments on their monthly bills, a survey by a New York credit index said.
The Cambridge Consumer Credit Index asked more than 800 adults in a nationwide telephone poll last week how they were handling their debt. Nearly half said they made only minimum monthly payments on credit card balances, 37 percent paid less than half and 17 percent paid more than half the monthly balance.
The percentage paying their credit cards bills in full each month rose to 39 percent, up 2 percent from a 2002 survey. And 33 percent said they did not use credit cards, a 7 percent increase from 2003.
"The survey shows those who have the means to pay off their credit cards is increasing and are better able to manage their spending habits, while the numbers of those unable to make or make only minimum payments is also on the rise," said Jane Goodman, a Cambridge financial analyst.
