The credit card is an American invention. But while we use credit to pay for plenty of Independence Day purchases, plastic isn’t so patriotic in the minds of many. Some believe credit card debt doesn’t fit with core U.S. ideals, such as freedom and independence. Others say Uncle Sam tracks our credit card spending, restricting civil liberties.
It’s not all gloom, doom and conspiracy theories, though. These days, we tend to trust credit card companies more than cornerstone institutions such as the federal government and media. And most people think access to credit should be a fundamental right.
These red, white and blue credit card conclusions reflect the results of WalletHub’s nationally representative Fourth of July Credit Card Survey. You can check out the complete findings in the infographic below.
- Why do you think 43% of survey respondents say they have more financial freedom than last year? How long do you think that will last?
- What’s your take on the contradiction between 82% of people thinking the government should cap credit card rates AND 57% of them saying the government shouldn’t restrict their ability to get a loan if the government says the interest rate is too high?
- 41% of Americans say they trust their credit card company more than the Trump administration - who is that more an indictment of: credit card companies, politicians or the rest of us?
- Are you surprised that 27% of Americans would get a credit card from a Chinese bank, if possible?
Ask the Experts
For more Independence Day stats, check out WalletHub’s Fourth of July By the Numbers report.
|Are you more or less free financially this year than last year?|
|Should the government cap the interest rates that credit card companies can charge?|
|Should the government be able to restrict your ability to get a loan if the government says the interest rate is too high?|
|How much do you expect to spend on Fourth of July-related expenses?|
|Are politicians free from the influence of special interest groups?|
|Is credit card debt consistent with America’s ideals (e.g. freedom and independence)?|
|Do you think the government tracks everyone’s credit card spending?|
|Which do you trust most?|
|Your credit card company||41%|
|The Trump administration||21%|
|Should access to credit be a basic American right?|
|Would you get a credit card from a Chinese bank? (assuming it works in the U.S.)|
|All in all, does access to credit make you more or less free?|
|Which would you most like to declare independence from?|
|Credit card debt||24%|
|Alcohol or Tobacco||10%|
|Are you worried about credit card skimmers at gas stations over the 4th of July holiday period?|
|Which are you prouder of this Fourth of July?|
|Your credit score||42%|
|Are you prouder of your country this year than last year?|
Note: Percentages may not total 100% due to rounding.