Men Better at Managing Credit Cards Than Women

Men Better at Managing Credit Cards Than Women

December 24, 2014         Written By Bill Hardekopf

According to research from BMO Harris Bank, men are better at managing their credit cards than women. The study showed men are more likely to pay off their card balances every month compared to women.

39% of male participants in the study said they always pay off their card balances, compared to 27% of women. Women showed a greater concern about their card balances, with 35% listing it as a “major financial concern.” Only 22% of men said the same.

To break down the behavioral differences even further, 14% of men and 10% of women said they usually pay off their balances each month but occasionally have a balance left over. 22% of women and 16% of men said they try to pay off their cards each month but are quite often left with more money owed. 18% of men and 19% of women said they always carry a balance.

For money management in general, 74% of men said they always pay their bills on time, compared to 59% of women. Interestingly, men carried a higher average student loan debt than women ($44,248 vs. $34,208).

The study included more than 1,000 participants from America who were polled between July 2nd and July 4th of this year.

The information contained within this article was accurate as of December 24, 2014. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.