Contact Us

Do Women Pay More than Men for Credit Cards? — Dollars and Sense

Woman Pay More for Credit Cards
Wathiq Khuzaie/Getty

According to a new study by the FINRA Investor Education Foundation, men and women aren’t equal when it comes to credit cards. It says that, on the average, women pay half a point higher on credit card interest rates than men do, even when income and level of education are factored in.

But financial woes among women don’t end there. The report also found that women were five percentage points more likely to carry a credit card balance, four points more likely to make only a minimum payment and six points more likely to be charged a late fee.

However, the reports goes on, women with a high level of financial literacy appear to fare much better, and in some cases rank equally with men.

“For women, having a high level of financial literacy appears to pay off,” said FINRA President Gerri Walsh. “Becoming more financially literate is a great step that any woman can take to keep more of her hard-earned money in her pocket.”

[Good Morning America]

Best of WIBX 950

Recommended For You

Around the Web

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://wibx950.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for IBX INCENTIVE CLUB quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive IBX INCENTIVE CLUB contests, events, coupons, presales, and much more delivered to you for FREE.