Home » Lifestyle » Holiday shopping: Consumers lean on store credit cards to offset financial burden
Holiday shopping: Consumers lean on store credit cards to offset financial burden
FOX Business Flash top headlines for November 7
Check out what’s clicking on FoxBusiness.com
An increasing number of consumers are considering applying for store credit cards to try and offset the financial strain on their wallets during the upcoming holiday shopping season.
This year, 35% of Americans are likely to apply for such cards, up from 29% a year ago, according to recent data from LendingTree. This marked the second-highest percentage in the five years that LendingTree has tracked the data.
Matt Schulz, LendingTree's chief credit analyst, told FOX Business that the data is "fairly surprising" given the fact that "there have been reasons to kind of write the obituary for store credit cards in the last couple of years in the wake of the buy now, pay later phenomenon."
INFLATION TO DAMPEN HOLIDAY RETAIL SALES, DELOITTE SAYS