Japan credit card surveys reveal high regret over revolving payments

Recent survey data from AZWAY and CC-Moola highlights distinct trends and challenges in credit card usage among Japanese consumers.

An AZWAY study of 300 individuals revealed that over 91% of those who used revolving payments (revo-barai) expressed regret. The primary reason cited was the unexpectedly high total amount of fees. Many users reported that while low monthly payments seemed manageable, they eventually faced ballooning balances, with some cases exceeding 1 million yen. The survey noted that regret rates increased with age, and many users lacked a detailed understanding of how interest accumulates on revolving balances.

In a separate survey regarding first-time credit card users, 52% of respondents prioritized low annual fees when selecting their first card. Rakuten Card was the most popular choice for beginners at 26.67%, followed by Sumitomo Mitsui Card (NL) and Saison Card International. Most first-time users, typically aged 20 to 22, reported high satisfaction levels with their initial cards.