61% Of People Are Willing To 'Acquire Debt' For The Holidays

Whattttt?

November 6, 2019

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A new CreditCards.com survey finds:

  • 61% of people with credit card debt are willing to go into more debt during the holiday season.
  • 52% of Millennials say they’ll add to their debt over the holidays, while only 49% of Gen Xers and 34% of Baby Boomers say the same.
  • 51% of debt holders believe the holidays are a good reason to increase their debt, something only 26% of those without debt say.

So, why are people willing to go into more debt for the holidays. Well, the survey notes:

  • 46% say it’s to please family or friends.
  • 42% do it to make themselves happy.
  • 38% say it’s to please their children.
  • 38% do it to make their partners happy.