[…] A new PYMNTS study found, generally speaking, there are three types of credit users. When “necessary financers” use credit, more than half the time it’s out of necessity. The second group, “middle financers,” are those for whom only about half of their credit purchases are driven by necessity. When “choice financers,” use credit, less than half the time it’s out of necessity. Economic pressures often drive these behaviors. For example, necessary financers tend to use cash and debit cards first to keep essential purchases from adding to their credit card debt. They use credit sparingly, reflecting a cautious approach to financial management. In contrast, PYMNTS Intelligence data shows that choice financers spend more and accumulate credit card benefits, such as reward points, along the way. Additionally, this group is more likely to avoid interest charges by paying off monthly balances whenever possible. [PYMNTS] […]