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Credit Card and Debt Statistics Database
by Scott Bilker
Scott Bilker is the author of the best-selling books, Talk Your Way Out of Credit Card Debt, Credit Card and Debt Management, and How to be more Credit Card and Debt Smart. He's also the founder of DebtSmart.com. More about and DebtSmart can be found in the online media kit.
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Cash or Credit

A while back (from Oct. 2001), two professors at the Massachusetts Institute of Technology in Cambridge conducted an experiment. The two, Drazen Preiec and Duncan Simester, held an auction for tickets to a Boston Celtics basketball game. Half of the bidders - chosen randomly - were told that the winner would have to pay for the tickets in cash (with grace time to come up with the money). The other half were told they could use a credit card. The bids of the credit card people were twice as high as those of the cash people. "Chargers" were willing to spend more.
        Categories:  Credit Card,Spending Habits
        Reporting Pub:  My Generation (Sep-Oct 2001)
        Reporting Date:  10/1/2001
        Article Title:  Drowning in Debt
        Article Author:  Gary Belsky
        Pub's Source: 
        Source URL: 
 

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