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Helpful shortcuts for credit card use: Ideas for financial educators
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To test out the impact of rules of thumb in helping consumers decrease their credit card debt, the CFPB
commissioned a rigorous study of two financial rules of thumb on consumers with revolving credit card debt. We created two new guidelines aimed at aiding consumers to decrease their revolving credit card debt: Don’t swipe the small stuff - Use cash when it’s under $20; Credit keeps charging - It adds approximately 20% to the total.

Author: CFPB - Consumer Financial Protection Bureau
Topic: Credit & Debt, Financial literacy
Publisher: CFPB - Consumer Financial Protection Bureau
Location: United States
Format: Report
Content Type: Research
Publication Date: January 31, 2017