A study by Experian and Edelman Berland noted that travelers relied heavily on credit for vacation purchases last year — with many planning to charge more than half of their vacation expenses this summer. Of those surveyed about their 2015 summer purchases:
- 86% spent money on a summer vacation in 2015.
- $2,275 was spent per person, with $1,308 of that being credit card purchases.
- 35% hadn’t saved in advance.
- 61% spent more than they planned.
Summer brings vacations and credit card use. By identifying consumer credit trends like these, you can target new customers and identify balance transfer opportunities.