Less than half of Poles use credit cards – report
15:26
Only 37 percent of Poles have credit cards in their wallets, a report by the Kronenberg Foundation revealed.
In the last few years, the number of cards has dropped sharply, as at the end of 2009, there were 10.9 million CCs in use. Today that number is 6.1 million.
Even though the numbers have dropped, the Foundation estimates that the optimal number of cards in Poland is 12 million. “According to our research, only 16 percent of respondents claim that they don’t need such card,” said Marcin Domagała, director at Citi Handlowy.
According to the report, 33 percent of respondents who don’t have a card, gave fear of hidden costs as a reason, 31 percent is afraid of high APR, while 25 percent is worried that having such card would make them unable to control their expenditures. Two percent said that they don’t know what a credit card is or how it works.
