Despite a tightening of their economic belts over the last couple of years, Americans aren't about to give up using their credit cards. In fact, according to a December poll of Americans' financial New Year's resolutions, decreasing dependency on credit cards is one of the least popular resolutions. Instead, many hope to improve their credit scores while still using their credit cards.
According to the National Foundation for Credit Counseling (NFCC) December online poll, consumers remain very connected to their credit cards. When asked to rank their 2012 financial resolutions, only six percent of more than 2,300 respondents indicated that decreasing dependence on credit cards was their number one goal.
"At first glance, that statistic could appear to be a warning sign of future trouble. However, credit is not the problem. Instead, it is the misuse of credit that leads people into financial distress," said Gail Cunningham, spokesperson for the NFCC.
The NFCC survey revealed that Americans are taking their financial situations more seriously with more respondents saying they want to increase their credit score in 2012 than did in 2011.
The top five financial resolutions for 2012 were:
· Decrease debt: 62 percent
· Increase savings: 8 percent
· Improve my credit score: 24 percent
· Decrease my dependence on credit cards: 6 percent
"The poll suggests that consumers have recognized the importance of achieving financial stability, and intend to take action. Nonetheless, even though paying down debt and improving the credit score are positive steps, the low priority placed on savings is disturbing," said Cunningham.