April 29 , 2011

Credit card spending once again on the rise

TORONTO--comScore, Inc., a leader in measuring the digital world, today released its annual Online Credit Card Report, which provides a comprehensive look at the online credit card industry over the past year. The report focuses on shifts in the industry related to improving consumer perceptions of the economic environment, card features most likely to influence card shopping decisions, and the growing importance of online servicing for issuers.

The report draws its analysis from comScore’s research panel of one million consumers and a comScore survey of nearly 2,000 Internet users conducted in December 2010. Among its findings, the study reveals a greater percentage of card shopping activity among consumers who reported having a more positive view of the economy.

As card issuers continue to develop websites and mobile applications as a way to engage with cardholders, a noticeable shift can be seen in consumers’ use of these channels as opposed to more traditional channels. In 2010, 76 percent of cardholders reported accessing their accounts online, up 5-percentage points from a year ago. One in five cardholders who also own a mobile phone report having used their mobile device to manage their accounts over the past 12 months.

While mobile applications and sites are not used to the same extent as other channels, they are gaining popularity. Among cardholders with mobile phones, 16 percent reported accessing their issuer’s site through a mobile browser and 13 percent reported accessing their accounts through mobile applications.

 

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