GAINESVILLE, Fla.–A new Back-to-School study released by CardRates.com has found 87% of Americans say they plan to pay off their back-to-school purchases made with a credit card (or cash) before the end of the year, with 37% paying off credit cards within one to two months and 9% doing so within three-six months.
As for which school items consumers said they expect to buy with credit cards this year, CardRates.com said it found:
- 47% computers (laptops, tablets and desktop PCs)
- 19% clothing, shoes and accessories
- 15% school supplies
- 15% computer accessories (monitors, printers)
- 12% smartphones and/or data plans
- 11% school books and/or registration fees
The study further revealed that the most popular type of credit cards Americans plan to use for back-to-school spending include those that offer 0% interest, cash back and rewards points.
According to CardRates.com, it rated the cards below as providing the best benefits and offers for the following categories of school needs:
Computers and Electronics
- Amazon Prime Rewards Visa Signature Card
- My Best Buy Credit Card
Clothing and Accessories
- U.S. Bank Cash+ Visa Signature Card
- Blue Cash Preferred Card from American Express
School Supplies
- Marvel Mastercard
- Huntington Voice Credit Card
Dorm Room Necessities
- Bed Bath & Beyond Mastercard Credit Card
- Target REDcard