Turns out both groups have a lot in common when it comes to credit cards
The 2016 presidential campaign is dividing families across the nation, with some couples threatening divorce over the wrong vote! But if there’s one thing supporters from both camps can agree on, it’s credit cards.
A recent survey from CreditCards.com says most supporters of Hillary Clinton and Donald Trump have credit card debt, and handle it similarly. Debt knows no political boundaries.
“We were shocked when we saw these results,” says Matt Schulz, CreditCards.com’s senior industry analyst. “This is such a contentious election cycle, and it seems like the candidates are growing further apart each day, but apparently not when it comes to credit cards.”
According to the results, 55 percent of Trump supporters and 51 percent of Clinton supporters have credit card debt. When it comes to punctuality, Trump supporters have a slight edge: 28 percent of them have paid their credit card bills late, while 34 percent of Clinton supporters have been past due.
There’s even a strong resemblance when it comes to preferred rewards: 73 percent of Trump supporters and 70 percent of Clinton fans prefer cash back rewards, as opposed to other benefits like airline miles. On both ends of the spectrum, most are sticking with the handheld plastic: 80 percent of Trump fans and 78 percent of Clinton supporters have never used mobile payment services like Apple Pay.
This is a little different from a survey earlier this year that said Trump supporters have better credit than Clinton supporters. Even then, however, the differences in scores and debt were marginal.
The debt divide: who is better with money?
Credit cards and student loan debt are at an all-time high and regardless of party affiliation, you’re probably looking for some support. So which candidate is going to help you more when it comes to financial relief?
If voters had to pick, Trump would win, but not with much confidence. Seniors prefer Trump slightly more than Clinton, while Gen Xers would pick Trump over Clinton two-to-one.
But a big difference in party affiliation comes down to how the government spends money. Republicans are more likely to carry a deficit in their own lives but hate it when governments do. Democrats, however, are slightly more likely to avoid debt personally but don’t mind as much when government carries debt. Despite the political differences, there are policies where both parties agree: paid maternity leave, Medicaid and food stamps.
As far as the candidates go, Donald Trump has the most campaign debt, and he may not have a problem with it considering he has a history of failed business ventures. But Trump isn’t talking too much about credit card and student loan debt reform like Clinton is. For her part, Clinton supports raising the minimum wage, debt-free college, and paid family leave.
To show a little more transparency to voters, Clinton and her running mate, Tim Kaine, released their 2015 income tax returns last week. Clinton and her husband, former President Bill Clinton, showed an adjusted gross income of $10.6 million. Trump has refused to release his taxes, citing an ongoing audit even though that doesn’t prevent him from doing anything. He is the first presidential nominee on a major party ticket since Richard Nixon to do so.