Do Women Pay More When Using Credit Cards? [Infographic]

This week’s financial infographic depicts some insightful information–that although some women are more inclined to shop around for deals, they are less likely to do so when “shopping” for a credit card. Overall, do women pay more when using credit cards?

According to Credit Sesame, yes they do. Women are less likely to pursue the growth of their financial literacy. There is a gender gap here. But when women are financially literate? That gender gap fizzles. You’ll see that when both genders financial literacy is raised, that women are more likely to do something with it. Does that make the old adage true that men are more stubborn?

Who knows, but both men and women can become more financially literate.

Here’s the most important take-aways for both groups of people:

  • Do whatever you can to not carry a balance
  • When you have a balance, pay more than the minimum
  • Avoid late fees (it’s easy)
  • Pay an over-the-limit fee

It may be true that women pay more when using credit cards. Here’s the real fact: men and women both pay more than they should when using credit cards. Throwing some financial literacy into the pot will help secure a brighter financial future and cut down on some of the credit card and debt anxiety.

READERS: What cultural shifts do you think must take place, that you can impact, that will make a change in the area the Infographic highlights?

Women and Credit Cards Infographic Provided by CreditSesame.com

Get your free credit score at CreditSesame.com


Comments

  1. It is interesting that both men and women pay more when they use a credit card. It should not matter! I think everyone should use some of the resources to shop around the prices. Instant gratification is more expensive!

    • It’s true–those that suffer from credit card debt are often subject to impulse buys AND not paying the balance in full. It’s not just about fulfilling an impulse, it’s about knocking out the bill as immediately as it racks up.

  2. You’re absolutely right Todd, everybody needs to increase their financial literacy. I’m not surprised that women benefit more from a financial education. Dealing with investors on a daily basis, it seems like I deal with more “responsible” women that men. Men are much more likely to take risks.

  3. It’s weird the differences between men and women. Women suck with money until they become financially literate, and then they rock. Men are fine with money until they become finally literate, and then they stay the same. Haha! Good to know though.

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