CHARLOTTE, N.C.—Nearly half (47%) of Americans who have held a store credit card say they regret their choice to get one, according to a new study.
And wealthy Americans were most likely to get a store card, and regret it, a LendingTree study shows.
“A staggering 88% of households with an annual income of $100,000 or more have had a store card at some point, compared with 75% of the general population. And 58% of these consumers regretted their decision,” MarketWatch stated in its analysis.
Generation Xers, Millennials and parents with children under the age of 18 were also more likely than the average American to feel remorse over getting a store card, MarketWatch said.
The full LendingTree study can be found here.