Number of Latino Consumers with Credit Cards Expected to Grow Steadily, reports Packaged Facts
10 Sep 2012 • by Natalie Aster
Latino consumers are a bright spot in an otherwise dreary picture for issuers of credit cards. Between 2004 and 2011 the total number of American consumers with credit cards dropped 5%, while the number of non-Latinos with credit cards fell 7%. During this same period, however, the number of Latino cardholders increased 23%. Thus, the vibrant growth in the number of Latino cardholders helped arrest what would have been an even more significant decline in the total number of American consumers owning credit cards.
Moreover, the number of Latino consumers with credit cards is expected to grow from 14.4 million in 2012 to 17.9 million in 2017. Latinos are key to growth in the debit and prepaid card worlds as well. The convenience and safety afforded by prepaid cards will contribute to continuing strong growth in the use of prepaid cards by Latinos, who in terms of consumer expenditures spend relatively more on categories such as food at home, eating out, apparel, laundry and cleaning supplies, and telephone services.
New in-demand report “Consumer Payments in the U.S.: The Latino Market” by Packaged Facts begins with an analysis of the top trends driving the Latino consumer payments market and shows how Latinos have sparked growth within the credit and debit card industries. It continues with an overview of Latino consumer payment patterns that includes analyses of how Latinos pay their bills and pay for purchases.
The report continues with a chapter examining trends in Latino consumer spending patterns. The next chapter explores the use of credit cards by Latinos and includes an overview of the demographic characteristics of Latino cardholders by type of credit card as well as a review of the personal financial management attitudes of Latinos with credit cards. The following chapter investigates the use of debit cards and prepaid (not gift) cards by Latinos. The final chapter of the report analyzes the impact of media acculturation on Latino consumer payment practices and highlights regional differences in the Latino consumer payments market.
Consumer Payments in the U.S.: The Latino Market
Published: August, 2012
Price: US$ 3.995,00
More information can be found in the report “Consumer Payments in the U.S.: The Latino Market” by Packaged Facts.
To order the report or ask for sample pages contact [email protected]