Credit-card mania

American Demographics, Dec, 1996 by Tibbett L. Speer, Marcia Mogelonsky

Asian Americans are still worthwhile credit customers. For one thing, the frequent use they make of their cards racks up transaction fees. And although 84 percent rate "no fee" as a very important factor in choosing a credit card they are less emphatic about it than the 92 percent of Hispanics who value fee-free cards. And since they are less likely than others to incur finance charges, they are less swayed by interest rates. Only 69 percent of Asian Americans cite low rates as very important in choosing a credit card, compared with 91 percent of Hispanics, 80 percent of blacks, and 75 percent of whites.

Market Segment Research & Consulting of Miami conducted a nationally representative survey of race and ethnic groups in 1996 that covered a variety of social, economic, and consumer topics. Contact president Gary Berman at (305) 669-3900 for more information.

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RELATED ARTICLE: TAKING IT FURTHER

CardTrak is published by RAM Research Group, P.O. Box 1700, Frederick, MD 21702; telephone (301) 695-4660. For more information about credit-card customers and their credit behavoir, contact Claritas Inc. at 1525 Wilson Boulevard, Suite 1000, Arlington, VA 22209-2411; telephone (800) 284-4868. Bankcard Holders of America is a nonprofit consumer group that offers statistical and other information. Contact them at 6862 Elm Street, Mclean, VA 22101; telephone (703) 917-9805.

Tibbett L. Speer is a contributing writer of Amenran Demographics and freelance writer in Washington, D. C She owns one major credit card and her husband owns another. Her dog and rat have none.