Compare Credit Cards for Men and Women

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October 05, 2007

Think like a woman, act like a man! This may be the right slogan when it comes to spending habits. Recently there have been many discussions whether spending habits of men and women differ. They do differ. This was shown in many researches.

Men and women view things differently. Moreover they reach their goals differently. Generally men and women use their credit cards in very different ways. What does this involve? Let us see.

Women are more sophisticated consumers than men. They are not just passive buyers of toothpaste and ready dinners. They are creative, they are emotional and they are powerful consumers. According to different researches women tend to spend money mostly on household goods, family and children. It was found out that women tend not to use their credit cards often.

Also women spend money on things that help to express themselves. And in this case women buy clothes, jewelry and beauty products. Which is more, women very often buy things they do not need. They shop impulsively, especially if they come across a sale.

By chance I came across a curious fact - a credit card offer from Citibank. For Indian women Citibank has a special offer - Women's Visa Mini Card. This card is designed especially for women and offers stunning discounts for everything that a woman needs starting from jewellery and beauty accessories to restaurants and cafes.

When it comes to men, they tend to spend more money than women. Mostly they make expensive purchases such as first class household appliances, cars, newest computers and software... The same as women men do care about their looks and they spend much money on clothes too. According to some estimations, a man can spend twice as much on himself but we should not forget that it is usually a man who showers his woman with presents!

Men tend to treat money as an investment tool. They seek value in every purchase they make. Furthermore, men are more aware of their financial future.

Most men prefer to use credit cards than cash. They compare credit cards and always know interest rates, while women very often do not know terms and conditions of their credit cards. When it comes to credit card debt women have a slightly bigger debt. This happens because with electronic payments people lose track of their day-to-day spending. This lowers some consumers' financial awareness and control over their money.

In fact it is very difficult to compare spending habits of men and women for spending habits largely depend on income level. It also depends on marital status for single women tend to spend more money than married.

When it comes to credit card deals we can see that card issuers usually have a great variety of credit card offers that can suit both men and women. It is difficult and unnecessary to segment market into two parts. In our modern society what is good for women can be as well good for men. So, despite all the differences both men and women need the same things. They are: security of their finances and convenience.