Credit Cards on the Brain?

SHARE

Tweet

Have you ever thought about why you may tend to spend more when using your credit cards? If so, you are not alone as millions of people set out with purchasing one thing and end up with much more. While many researchers have had theories on why this happens, there has never been much research done. That is until now, as many of the brightest minds look at the possible effects credit cards have on consumers.

 

According to an article entitled "Why Do We Spend More When Using Credit Cards?" it now seems that researchers are beginning to believe that when consumers pay with cash they feel differently than when they pay with plastic. In fact according to multiple studies, when it comes to spending hard earned cash it is associated with pain. If this is the case, then it could very well be one of the factors on why credit cards are used more by millions of Americans.

 

If these studies hold true, while it is defiantly not the case for every cardholder, it is something that is worth thinking about. It could very well be one of the reasons why consumers using credit cards on average spend up to 20 percent more then they set out. Then again it could simply be the case of impulse buying that wins the battle over everyone once in a while.