Women buy more with credit cards than men: credit card center

Taipei--Women outspent men on credit cards over a six-month period last year, according to data released recently by the National Credit Card Center of the Republic of China.

Between April and September 2016, women spent NT$533.1 billion, (US$17.31 billion) -- over NT$100 billion more than men, who spent NT$427.2 billion.

The figures indicate that men on average spent NT$2,428 on credit cards per transaction, compared with women, who spent NT$2,635 per transaction, during the six-month period.

The center said that the only category in which men outspent women was transportation, spending less on food, clothing, living expenses, cultural activities and daily necessities.

Credit card spending broken down by age group shows that those aged over 80 spent the most, at NT$4,540 per transaction, while those aged 20-30 spent the least, at NT$1,796.

Those under 20 spent an average of NT$2,057, the 30-40 age group NT$2,122, the 40-50 age group NT$2,601, the 50-60 age group NT$3,205, the 60-70 group NT$3,756 and the 70-80 group NT$4,157.

The figures clearly indicate that people use their credit card more as they grow older, the center said, speculating that seniors are more financially secure and more willing to buy high-priced services and products.

Another reason could be that senior citizens are accustomed to making big purchases and so prefer to pay with credit cards, the center said. By Tsai Yi-chu and Lilian Wu)

Source: Focus Taiwan News Channel