where does transactors spend more compared to revolvers ? like travel, grocery , etc
Transactors and revolvers are terms used to categorize credit card users based on their payment behavior. Transactors typically pay off their credit card balances in full each month, while revolvers carry a balance from month to month, incurring interest charges.
In terms of spending patterns, transactors often spend more on discretionary items such as travel, dining out, and entertainment. This is because they are more likely to use credit cards as a means of payment and then pay off the balance in full, taking advantage of rewards programs and benefits like cashback and travel points.
On the other hand, revolvers may spend more on essential items like groceries, gas, and other recurring expenses. This could be due to reliance on credit to cover ongoing costs, which can lead to higher overall spending due to the accrual of interest on balances.
It's important to note that these are general trends and individual spending habits can vary widely.
do you have any numerical data to support this ?
I don't have access to specific numerical data on the spending patterns of transactors and revolvers across different expense categories. The spending habits of credit card users can vary widely based on individual preferences, financial circumstances, and lifestyle choices. While there may be anecdotal evidence or general trends, precise numerical data would require access to specific financial reports or industry studies. If you have access to a specific dataset or study on this topic, I'd be happy to help analyze or interpret the findings
not on individual level. I need it on category level. here categories can be like travel, grocery, etc
I currently don't have access to specific numerical data on credit card spending categorized by transactors and revolvers across different expense categories such as travel, grocery, dining, and others. The spending patterns of transactors and revolvers in specific expense categories can be influenced by a wide array of factors including personal preferences, financial circumstances, and geographic location. Access to detailed industry reports or comprehensive data sets would be necessary to provide precise numerical data. If you have access to such data or reports, I can assist in analyzing and interpreting the information to identify spending trends across different expense categories.