Living expenses were the leading reasons to take out credit card loans or credit card cash advances in Japan, according to a survey conducted between February and March 2023. Around 45.6 of respondents who had taken out credit card loans or cash advances had done so to cover living expenses, while 29 percent intended to pay off deferred payments.
Reasons for using cash advances or card loans from credit card companies in Japan as of March 2023
Characteristic
Share of respondents
To cover living expenses (including utility costs)
45.6%
To cover funds to pay off deferred payments, etc. (credit cards, online shopping)
29%
Wanted something but did not have enough money on hand
14.6%
To cover funds to repay housing loans
11.8%
There was not enough money for amusement (entertainment and leisure expenses)
10.2%
To pay medical expenses
8.6%
To cover funds to repay other lenders
7.6%
There was not enough money for gambling, etc.
6.5%
To pay for important ceremonial occasions such as weddings and funerals
among consumers who have borrowed money from non-bank lenders in the past three years*
Method of interview
Online survey
Supplementary notes
*Consumers who have used cash advances/card loans from credit card companies, taken out loans from consumer credit companies (including fintech businesses lending to individuals), loans from small-business lenders (including fintech businesses lending to businesses) or loans from bill discounting business in the past three years.
Excluding individuals who work in publishing/printing, mass media (newspapers, broadcasting, etc.), advertising/market research, finance/insurance/securities, or who have family members who work in these fields.
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Financial Services Agency (Japan). (March 31, 2023). Reasons for using cash advances or card loans from credit card companies in Japan as of March 2023 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1393572/japan-cash-advances-credit-card-loans-usage-reasons/
Financial Services Agency (Japan). "Reasons for using cash advances or card loans from credit card companies in Japan as of March 2023." Chart. March 31, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1393572/japan-cash-advances-credit-card-loans-usage-reasons/
Financial Services Agency (Japan). (2023). Reasons for using cash advances or card loans from credit card companies in Japan as of March 2023. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1393572/japan-cash-advances-credit-card-loans-usage-reasons/
Financial Services Agency (Japan). "Reasons for Using Cash Advances or Card Loans from Credit Card Companies in Japan as of March 2023." Statista, Statista Inc., 31 Mar 2023, https://www.statista.com/statistics/1393572/japan-cash-advances-credit-card-loans-usage-reasons/
Financial Services Agency (Japan), Reasons for using cash advances or card loans from credit card companies in Japan as of March 2023 Statista, https://www.statista.com/statistics/1393572/japan-cash-advances-credit-card-loans-usage-reasons/ (last visited July 22, 2024)
Reasons for using cash advances or card loans from credit card companies in Japan as of March 2023 [Graph], Financial Services Agency (Japan), March 31, 2023. [Online]. Available: https://www.statista.com/statistics/1393572/japan-cash-advances-credit-card-loans-usage-reasons/
